MEG Energy (MEG) Set to Announce Quarterly Earnings on Monday

MEG Energy (TSE:MEG) is scheduled to post its quarterly earnings results after the market closes on Monday, May 6th. Analysts expect MEG Energy to post earnings of C$0.47 per share for the quarter.

MEG Energy (TSE:MEG) last released its earnings results on Thursday, February 29th. The company reported C$0.37 EPS for the quarter, missing analysts’ consensus estimates of C$0.59 by C($0.22). MEG Energy had a net margin of 10.06% and a return on equity of 12.77%. The business had revenue of C$1.44 billion for the quarter, compared to the consensus estimate of C$1.40 billion.

MEG Energy Price Performance

Shares of MEG stock opened at C$30.77 on Friday. The stock has a 50 day moving average price of C$30.77 and a 200 day moving average price of C$27.10. The firm has a market capitalization of C$8.37 billion, a P/E ratio of 15.54, a P/E/G ratio of 0.17 and a beta of 3.16. The company has a debt-to-equity ratio of 30.55, a quick ratio of 1.17 and a current ratio of 1.48. MEG Energy has a 52-week low of C$19.41 and a 52-week high of C$33.70.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MEG shares. TD Securities upped their price target on shares of MEG Energy from C$28.00 to C$32.00 and gave the stock a “hold” rating in a report on Friday, March 1st. JPMorgan Chase & Co. increased their price objective on MEG Energy from C$33.00 to C$34.00 in a research note on Tuesday, March 12th. Royal Bank of Canada lifted their target price on MEG Energy from C$32.00 to C$39.00 in a research report on Tuesday, April 9th. National Bankshares lifted their price objective on MEG Energy from C$32.00 to C$37.00 and gave the company a “sector perform” rating in a report on Friday, April 19th. Finally, CIBC increased their target price on shares of MEG Energy from C$30.00 to C$34.00 and gave the stock a “neutral” rating in a report on Monday, April 22nd. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of C$33.09.

Insider Buying and Selling at MEG Energy

In related news, Director Derek Watson Evans sold 234,562 shares of MEG Energy stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of C$28.94, for a total transaction of C$6,788,247.74. In other news, Senior Officer David Michael Granger sold 32,144 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of C$30.47, for a total transaction of C$979,504.83. Also, Director Derek Watson Evans sold 234,562 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of C$28.94, for a total value of C$6,788,247.74. In the last quarter, insiders have sold 301,679 shares of company stock worth $8,825,336. 0.63% of the stock is owned by corporate insiders.

About MEG Energy

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.