MEG Energy (TSE:MEG) had its price target hoisted by equities research analysts at JPMorgan Chase & Co. from C$6.00 to C$7.00 in a research report issued on Monday, BayStreet.CA reports. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 11.29% from the stock’s current price.
A number of other research firms also recently issued reports on MEG. CSFB boosted their price target on MEG Energy from C$7.00 to C$8.00 in a research report on Friday, November 22nd. Morgan Stanley lowered MEG Energy from an “overweight” rating to an “underweight” rating and dropped their price target for the stock from C$7.00 to C$5.00 in a research note on Wednesday, October 23rd. Raymond James set a C$6.50 price objective on MEG Energy and gave the stock a “market perform” rating in a report on Tuesday, November 26th. Royal Bank of Canada reduced their price objective on MEG Energy from C$7.00 to C$6.50 in a research note on Friday, October 18th. Finally, Goldman Sachs Group decreased their target price on MEG Energy from C$7.00 to C$6.00 in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. MEG Energy currently has an average rating of “Hold” and an average target price of C$6.92.
Shares of MEG traded down C$0.01 during mid-day trading on Monday, reaching C$6.29. The company had a trading volume of 707,535 shares, compared to its average volume of 2,539,959. The stock has a market cap of $1.88 billion and a price-to-earnings ratio of -6.54. The firm has a fifty day simple moving average of C$5.42 and a 200-day simple moving average of C$5.20. MEG Energy has a fifty-two week low of C$4.06 and a fifty-two week high of C$8.62. The company has a current ratio of 1.52, a quick ratio of 1.25 and a debt-to-equity ratio of 92.61.
MEG Energy (TSE:MEG) last announced its quarterly earnings data on Wednesday, October 30th. The company reported C$0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.14 by C($0.06). The firm had revenue of C$942.00 million for the quarter, compared to the consensus estimate of C$791.28 million. As a group, equities analysts predict that MEG Energy will post 0.0701266 EPS for the current fiscal year.
MEG Energy Company Profile
MEG Energy Corp., an oil sands company, focuses on sustainable in situ development and production in the southern Athabasca oil sands region of Alberta. The company owns a 100% interest in approximately 900 square miles of oil sands leases in the southern Athabasca oil sands region of northern Alberta.
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