Baytex Energy Corp. (TSE:BTE) Forecasted to Earn Q3 2024 Earnings of $0.19 Per Share

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) – Atb Cap Markets cut their Q3 2024 earnings per share estimates for shares of Baytex Energy in a report issued on Monday, April 22nd. Atb Cap Markets analyst A. Arif now anticipates that the company will earn $0.19 per share for the quarter, down from their prior forecast of $0.20. The consensus estimate for Baytex Energy’s current full-year earnings is $0.74 per share. Atb Cap Markets also issued estimates for Baytex Energy’s FY2025 earnings at $0.60 EPS, FY2027 earnings at $0.14 EPS and FY2028 earnings at $0.14 EPS.

Baytex Energy (TSE:BTE) (NYSE:BTE) last posted its quarterly earnings data on Wednesday, February 28th. The company reported C$0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.13 by C$0.12. Baytex Energy had a negative return on equity of 6.81% and a negative net margin of 8.60%. The firm had revenue of C$1.07 billion during the quarter.

Other equities analysts have also recently issued reports about the company. TD Securities cut their price objective on Baytex Energy from C$6.50 to C$6.00 and set a “buy” rating for the company in a report on Thursday, February 29th. ATB Capital cut their price objective on Baytex Energy from C$6.50 to C$6.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Stifel Nicolaus upped their price objective on Baytex Energy from C$6.25 to C$7.00 and gave the stock a “buy” rating in a report on Tuesday. National Bankshares cut their price objective on Baytex Energy from C$8.25 to C$7.25 and set an “outperform” rating for the company in a report on Wednesday, January 10th. Finally, Raymond James dropped their target price on Baytex Energy from C$6.75 to C$5.00 and set a “market perform” rating for the company in a report on Friday, January 19th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$6.53.

Baytex Energy Price Performance

BTE opened at C$5.20 on Wednesday. The stock has a 50-day moving average price of C$4.75 and a 200-day moving average price of C$4.85. Baytex Energy has a 12-month low of C$3.83 and a 12-month high of C$6.37. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 63.80. The stock has a market capitalization of C$4.27 billion, a P/E ratio of -15.76, a PEG ratio of 0.12 and a beta of 2.78.

Baytex Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.023 dividend. This represents a $0.09 annualized dividend and a yield of 1.77%. The ex-dividend date was Thursday, March 14th. Baytex Energy’s dividend payout ratio (DPR) is currently -27.27%.

Insiders Place Their Bets

In other Baytex Energy news, Director Tiffany Thom Cepak sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of C$3.55, for a total value of C$142,000.00. In other Baytex Energy news, Director Tiffany Thom Cepak sold 40,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of C$3.55, for a total value of C$142,000.00. Also, Senior Officer Eric Thomas Greager acquired 20,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of C$4.25 per share, with a total value of C$85,000.00. Company insiders own 0.73% of the company’s stock.

About Baytex Energy

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.