Q1 2024 Earnings Estimate for Baytex Energy Corp. Issued By Atb Cap Markets (TSE:BTE)

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) – Atb Cap Markets raised their Q1 2024 EPS estimates for Baytex Energy in a report issued on Monday, April 22nd. Atb Cap Markets analyst A. Arif now expects that the company will post earnings per share of $0.16 for the quarter, up from their prior estimate of $0.15. 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 Q2 2024 earnings at $0.17 EPS and FY2024 earnings at $0.73 EPS.

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

A number of other equities analysts have also commented on the stock. Stifel Nicolaus raised their price target on shares of Baytex Energy from C$6.25 to C$7.00 and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank of Canada reduced their price objective on shares of Baytex Energy from C$8.00 to C$7.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. BMO Capital Markets set a C$6.00 price objective on shares of Baytex Energy and gave the stock a “market perform” rating in a research note on Tuesday, April 9th. CIBC increased their price objective on shares of Baytex Energy from C$6.00 to C$6.50 and gave the stock a “neutral” rating in a research note on Monday. Finally, National Bankshares reduced their price objective on shares of Baytex Energy from C$8.25 to C$7.25 and set an “outperform” rating on the stock in a research note on Wednesday, January 10th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$6.53.

Baytex Energy Price Performance

TSE:BTE opened at C$5.20 on Tuesday. Baytex Energy has a 52 week low of C$3.83 and a 52 week high of C$6.37. The firm has a market cap of C$4.27 billion, a price-to-earnings ratio of -15.76, a P/E/G ratio of 0.12 and a beta of 2.78. The firm’s 50-day simple moving average is C$4.75 and its 200 day simple moving average is C$4.85. The company has a debt-to-equity ratio of 63.80, a quick ratio of 0.77 and a current ratio of 0.79.

Insider Activity

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

Baytex Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.023 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.09 dividend on an annualized basis and a dividend yield of 1.77%. Baytex Energy’s payout ratio is currently -27.27%.

Baytex Energy Company Profile

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.