Q1 2024 EPS Estimates for Surge Energy Inc. (TSE:SGY) Lowered by Analyst

Surge Energy Inc. (TSE:SGY) – Stock analysts at Atb Cap Markets lowered their Q1 2024 earnings per share estimates for Surge Energy in a research note issued to investors on Monday, April 22nd. Atb Cap Markets analyst A. Arif now expects that the company will earn $0.12 per share for the quarter, down from their prior forecast 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.

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

Surge Energy Stock Performance

Shares of SGY stock opened at C$7.75 on Tuesday. The company has a market capitalization of C$779.50 million, a P/E ratio of 4.78, a P/E/G ratio of 0.59 and a beta of 2.66. The business’s 50 day moving average is C$7.28 and its two-hundred day moving average is C$7.40. The company has a current ratio of 0.52, a quick ratio of 0.40 and a debt-to-equity ratio of 33.44. Surge Energy has a 12-month low of C$5.89 and a 12-month high of C$9.77.

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

Surge Energy Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.48 annualized dividend and a dividend yield of 6.19%. Surge Energy’s dividend payout ratio is presently 29.63%.

Insider Activity at Surge Energy

In related news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of C$7.98, for a total value of C$99,869.70. Insiders own 1.91% of the company’s stock.

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.