FY2017 EPS Estimates for Gran Tierra Energy Inc (GTE) Decreased by Cormark
Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE) – Analysts at Cormark lowered their FY2017 EPS estimates for Gran Tierra Energy in a report released on Friday. Cormark analyst G. Ursu now expects that the company will post earnings of $0.10 per share for the year, down from their previous estimate of $0.16. Cormark also issued estimates for Gran Tierra Energy’s Q4 2017 earnings at $0.08 EPS, Q3 2018 earnings at $0.09 EPS, Q4 2018 earnings at $0.09 EPS, FY2018 earnings at $0.36 EPS and FY2019 earnings at $0.45 EPS.
Gran Tierra Energy (TSE:GTE) (AMEX:GTE) last announced its quarterly earnings data on Thursday, November 2nd. The company reported C$0.01 EPS for the quarter, missing analysts’ consensus estimates of C$0.05 by C($0.04). Gran Tierra Energy had a negative net margin of 7.08% and a negative return on equity of 2.76%. The firm had revenue of C$103.77 million during the quarter, compared to the consensus estimate of C$110.60 million. During the same period last year, the business earned ($0.71) EPS. The business’s revenue was up 51.4% on a year-over-year basis. TRADEMARK VIOLATION WARNING: This piece of content was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/11/08/fy2017-eps-estimates-for-gran-tierra-energy-inc-gte-decreased-by-cormark.html.
GTE has been the subject of a number of other research reports. Eight Capital cut their target price on shares of Gran Tierra Energy from C$6.50 to C$5.25 in a research note on Wednesday, September 27th. Scotiabank reiterated an “outperform” rating and issued a C$5.50 price objective on shares of Gran Tierra Energy in a research note on Friday, November 3rd. Finally, Zacks Investment Research upgraded shares of Gran Tierra Energy from a “hold” rating to a “buy” rating and set a C$2.50 price objective for the company in a research note on Tuesday, July 18th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of C$4.88.
Shares of Gran Tierra Energy (TSE GTE) opened at C$2.87 on Monday. Gran Tierra Energy has a 12 month low of C$2.41 and a 12 month high of C$4.36.
Institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC grew its holdings in Gran Tierra Energy by 10.4% during the 1st quarter. Jane Street Group LLC now owns 40,479 shares of the company’s stock worth $107,000 after acquiring an additional 3,818 shares during the last quarter. BlueCrest Capital Management Ltd bought a new stake in Gran Tierra Energy during the 2nd quarter worth approximately $114,000. Aperio Group LLC grew its holdings in Gran Tierra Energy by 6.9% during the 2nd quarter. Aperio Group LLC now owns 73,692 shares of the company’s stock worth $165,000 after acquiring an additional 4,769 shares during the last quarter. Karp Capital Management Corp bought a new stake in Gran Tierra Energy during the 1st quarter worth approximately $182,000. Finally, Bank of Nova Scotia grew its holdings in Gran Tierra Energy by 39.3% during the 2nd quarter. Bank of Nova Scotia now owns 115,707 shares of the company’s stock worth $257,000 after acquiring an additional 32,656 shares during the last quarter.
In related news, insider Gmt Capital Corp purchased 15,100 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were bought at an average cost of C$2.04 per share, with a total value of C$30,804.00. Also, Director Brooke N. Wade purchased 242,600 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were bought at an average cost of C$2.31 per share, for a total transaction of C$560,406.00. Following the completion of the acquisition, the director now directly owns 242,600 shares in the company, valued at approximately C$560,406. The disclosure for this purchase can be found here. Insiders bought a total of 338,100 shares of company stock valued at $760,048 over the last 90 days.
About Gran Tierra Energy
Gran Tierra Energy Inc is an energy company engaged in oil and gas acquisition, exploration, development and production. The Company focuses on onshore oil and gas properties in Colombia, and also own rights to oil and gas properties in Brazil and Peru. Its segments are Colombia, Peru and Brazil based on geographic organization.
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