Beacon Securities Comments on Gear Energy Ltd’s Q3 2016 Earnings (GXE)
Gear Energy Ltd (TSE:GXE) – Investment analysts at Beacon Securities issued their Q3 2016 earnings per share estimates for shares of Gear Energy in a research report issued to clients and investors on Monday. Beacon Securities analyst L. Dunkley expects that the brokerage will post earnings of $0.00 per share for the quarter. Beacon Securities currently has a “Buy” rating on the stock. Beacon Securities also issued estimates for Gear Energy’s Q4 2016 earnings at $0.00 EPS, FY2016 earnings at ($0.11) EPS, Q1 2017 earnings at $0.00 EPS, Q2 2017 earnings at $0.00 EPS, Q3 2017 earnings at $0.01 EPS, Q4 2017 earnings at $0.02 EPS and FY2017 earnings at $0.03 EPS.
Several other analysts have also recently commented on GXE. AltaCorp Capital lifted their price objective on shares of Gear Energy from C$0.85 to C$1.05 in a research note on Friday, September 9th. Canaccord Genuity initiated coverage on shares of Gear Energy in a research note on Tuesday, October 18th. They set a “speculative buy” rating and a C$1.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Gear Energy presently has an average rating of “Buy” and a consensus price target of C$0.88.
Gear Energy (TSE:GXE) opened at 0.70 on Wednesday. The company’s market cap is $133.35 million. Gear Energy has a 12 month low of $0.25 and a 12 month high of $0.85. The company’s 50 day moving average is $0.75 and its 200-day moving average is $0.68.
About Gear Energy
Gear Energy Ltd. is a junior oil and gas company engaged in the exploration for, and the acquisition, development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin, with a focus on heavy oil. The Company’s oil and gas properties are located in Alberta, British Columbia and Saskatchewan.
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