Spartan Delta (TSE:SDE) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Spartan Delta (TSE:SDE) posted its quarterly earnings results on Tuesday. The company reported C$0.06 EPS for the quarter, missing the consensus estimate of C$0.07 by C($0.01), reports. The business had revenue of C$84.15 million during the quarter. Spartan Delta had a net margin of 111.86% and a return on equity of 68.13%.

Spartan Delta Trading Up 2.1 %

Shares of Spartan Delta stock opened at C$4.30 on Thursday. The company has a debt-to-equity ratio of 18.55, a current ratio of 0.89 and a quick ratio of 0.66. The firm has a market cap of C$744.76 million, a PE ratio of 1.13 and a beta of 1.75. Spartan Delta has a 1 year low of C$2.63 and a 1 year high of C$16.66. The stock has a fifty day moving average price of C$3.73 and a 200-day moving average price of C$3.44.

Analyst Ratings Changes

Several brokerages have commented on SDE. TD Securities dropped their price target on shares of Spartan Delta from C$4.50 to C$4.25 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Raymond James decreased their target price on Spartan Delta from C$6.50 to C$5.00 and set an “outperform” rating for the company in a report on Friday, January 19th. Desjardins lowered shares of Spartan Delta from a “buy” rating to a “hold” rating and set a C$4.50 price target for the company. in a research note on Tuesday, April 23rd. Stifel Nicolaus boosted their price target on Spartan Delta from C$4.25 to C$4.50 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, Cormark lifted their target price on Spartan Delta from C$6.50 to C$7.50 in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Spartan Delta presently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.36.

About Spartan Delta

Spartan Delta Corp. engages in the exploration, development, and production of oil and natural gas reserves in the Western Canada. Its assets are located in Montney and Deep Basin. The company was formerly known as Return Energy Inc and changed its name to Spartan Delta Corp. in May 2020. The company was incorporated in 2006 and is headquartered in Calgary, Canada.