Atb Cap Markets Comments on Surge Energy Inc.’s FY2024 Earnings (TSE:SGY)

Surge Energy Inc. (TSE:SGY) – Investment analysts at Atb Cap Markets decreased their FY2024 earnings per share estimates for shares of Surge Energy in a research note issued to investors on Monday, April 22nd. Atb Cap Markets analyst A. Arif now anticipates that the company will earn $0.62 per share for the year, down from their previous estimate of $0.83. 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 FY2026 earnings at ($0.19) EPS, FY2027 earnings at ($0.11) EPS and FY2028 earnings at ($0.05) EPS.

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

Surge Energy Stock Down 1.0 %

Shares of Surge Energy stock opened at C$7.67 on Wednesday. The business has a 50-day moving average of C$7.28 and a 200-day moving average of C$7.40. 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 company has a market capitalization of C$771.45 million, a PE ratio of 4.73, a P/E/G ratio of 0.59 and a beta of 2.66. Surge Energy has a 1-year low of C$5.89 and a 1-year high of C$9.77.

Surge Energy (TSE:SGY) last announced its earnings results on Wednesday, March 6th. The company reported C($0.29) earnings per share for the quarter, missing the consensus estimate of C$0.24 by C($0.53). The business had revenue of C$168.45 million for the quarter, compared to analyst estimates of C$179.30 million. Surge Energy had a net margin of 2.82% and a return on equity of 1.87%.

Surge Energy Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, April 30th will be issued a $0.04 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.48 dividend on an annualized basis and a yield of 6.26%. Surge Energy’s dividend payout ratio is currently 29.63%.

Insiders Place Their Bets

In other Surge Energy news, Senior Officer Jared Andrew Renton Ducs sold 3,933 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$7.42, for a total value of C$29,182.86. 1.91% of the stock is currently owned by corporate insiders.

About Surge Energy

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.