FY2016 EPS Estimates for Surge Energy Inc (SGY) Reduced by Cormark
Surge Energy Inc (TSE:SGY) – Analysts at Cormark dropped their FY2016 earnings per share (EPS) estimates for Surge Energy in a report issued on Thursday. Cormark analyst G. Ursu now anticipates that the brokerage will post earnings of ($0.05) per share for the year, down from their previous forecast of ($0.03). Cormark also issued estimates for Surge Energy’s Q4 2016 earnings at $0.01 EPS, Q1 2017 earnings at $0.02 EPS, Q2 2017 earnings at $0.02 EPS, Q3 2017 earnings at $0.03 EPS and FY2017 earnings at $0.12 EPS.
A number of other equities research analysts also recently weighed in on SGY. Paradigm Capital raised Surge Energy from a “hold” rating to a “buy” rating and raised their price objective for the company from C$2.50 to C$3.00 in a research report on Wednesday, September 7th. CIBC raised Surge Energy from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, September 28th. Royal Bank Of Canada raised their price objective on Surge Energy from C$2.75 to C$3.00 and gave the company a “sector perform” rating in a research report on Thursday, October 6th. National Bank Financial dropped their price objective on Surge Energy from C$3.50 to C$3.00 in a research report on Wednesday, August 3rd. Finally, Scotiabank reaffirmed a “sector perform” rating and set a C$3.00 price objective on shares of Surge Energy in a research report on Friday, July 22nd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of C$2.97.
Shares of Surge Energy (TSE:SGY) opened at 2.83 on Monday. The stock’s 50 day moving average is $2.51 and its 200 day moving average is $2.40. Surge Energy has a 52-week low of $1.40 and a 52-week high of $3.49. The stock’s market cap is $625.56 million.
In other news, Director Paul Colborne bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was purchased at an average price of C$2.58 per share, with a total value of C$25,800.00.
Receive News & Stock Ratings for Surge Energy Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Surge Energy Inc and related stocks with our FREE daily email newsletter.