Atb Cap Markets Research Analysts Decrease Earnings Estimates for Surge Energy Inc. (TSE:SGY)

Surge Energy Inc. (TSE:SGY) – Research analysts at Atb Cap Markets cut their Q1 2024 earnings per share (EPS) estimates for shares of Surge Energy in a research report issued to clients and investors on Monday, April 22nd. Atb Cap Markets analyst A. Arif now forecasts that the company will post earnings of $0.12 per share for the quarter, down from their prior estimate of $0.17. The consensus estimate for Surge Energy’s current full-year earnings is $1.01 per share. Atb Cap Markets also issued estimates for Surge Energy’s Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.21 EPS and FY2025 earnings at $0.48 EPS.

Surge Energy (TSE:SGY) last issued its quarterly earnings data on Wednesday, March 6th. The company reported C($0.29) EPS for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.53). Surge Energy had a net margin of 2.82% and a return on equity of 1.87%. The firm had revenue of C$168.45 million during the quarter, compared to analyst estimates of C$179.30 million.

A number of other brokerages have also commented on SGY. National Bankshares decreased their price objective on Surge Energy from C$13.00 to C$11.00 and set an “outperform” rating on the stock in a report on Wednesday, January 10th. Raymond James reduced their target price on Surge Energy from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a report on Friday, January 19th. BMO Capital Markets set a C$10.00 target price on Surge Energy and gave the stock an “outperform” rating in a report on Thursday, March 21st. Finally, ATB Capital reduced their target price on Surge Energy from C$13.00 to C$10.50 and set an “outperform” rating on the stock in a report on Thursday, January 18th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Surge Energy has a consensus rating of “Buy” and a consensus price target of C$11.79.

Surge Energy Stock Performance

Shares of TSE SGY opened at C$7.54 on Tuesday. The company has a debt-to-equity ratio of 33.44, a current ratio of 0.52 and a quick ratio of 0.40. The stock’s fifty day moving average price is C$7.25 and its two-hundred day moving average price is C$7.41. Surge Energy has a one year low of C$5.89 and a one year high of C$9.77. The firm has a market cap of C$758.37 million, a price-to-earnings ratio of 4.65, a P/E/G ratio of 0.59 and a beta of 2.66.

Insider Buying and Selling

In related news, Senior Officer Jared Andrew Renton Ducs sold 3,933 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of C$7.42, for a total transaction of C$29,182.86. 1.91% of the stock is owned by corporate insiders.

Surge Energy Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, April 29th. This represents a $0.48 annualized dividend and a dividend yield of 6.37%. Surge Energy’s dividend payout ratio is currently 29.63%.

Surge Energy Company Profile

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.