Gear Energy Ltd to Post FY2017 Earnings of $0.03 Per Share, Cormark Forecasts (GXE)
Gear Energy Ltd (TSE:GXE) – Research analysts at Cormark lowered their FY2017 earnings per share (EPS) estimates for Gear Energy in a research note issued to investors on Tuesday. Cormark analyst G. Ursu now expects that the company will earn $0.03 per share for the year, down from their prior forecast of $0.04. Cormark also issued estimates for Gear Energy’s FY2018 earnings at $0.04 EPS.
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Shares of Gear Energy (TSE GXE) opened at 0.73 on Thursday. The company’s market capitalization is $140.82 million. Gear Energy has a 12-month low of $0.60 and a 12-month high of $1.25. The company has a 50 day moving average of $0.75 and a 200-day moving average of $0.75.
In other news, Director John O’connell sold 75,000 shares of the firm’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of C$0.75, for a total value of C$56,250.00. Also, insider Jason John Kenneth Kaluski sold 166,000 shares of the firm’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of C$0.75, for a total transaction of C$124,500.00. In the last three months, insiders have acquired 600,000 shares of company stock worth $438,000 and have sold 294,180 shares worth $221,731.
About Gear Energy
Gear Energy Ltd. is an exploration and production company with heavy and light oil production in Central Alberta and West Central Saskatchewan. The Company is engaged in the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. The Company’s properties include Paradise Hill, Wildmere Cummings, Wilson Creek and Hoosier.
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