Cathedral Energy Services Ltd. (TSE:CET) Forecasted to Post FY2024 Earnings of $0.16 Per Share

Cathedral Energy Services Ltd. (TSE:CET) – Investment analysts at Cormark cut their FY2024 earnings per share estimates for shares of Cathedral Energy Services in a research note issued on Thursday, March 28th. Cormark analyst B. Watson now expects that the company will earn $0.16 per share for the year, down from their prior estimate of $0.21. The consensus estimate for Cathedral Energy Services’ current full-year earnings is $0.23 per share. Cormark also issued estimates for Cathedral Energy Services’ FY2025 earnings at $0.22 EPS.

A number of other equities research analysts have also commented on the company. ATB Capital reduced their price target on Cathedral Energy Services from C$1.40 to C$1.30 and set an “outperform” rating on the stock in a research report on Friday, December 22nd. Atb Cap Markets upgraded Cathedral Energy Services from a “sector perform” rating to an “outperform” rating in a research report on Friday, December 22nd.

Cathedral Energy Services Price Performance

Shares of CET opened at C$0.89 on Friday. Cathedral Energy Services has a 12-month low of C$0.56 and a 12-month high of C$1.08. The business has a 50-day simple moving average of C$0.88 and a two-hundred day simple moving average of C$0.82. The company has a quick ratio of 1.05, a current ratio of 1.40 and a debt-to-equity ratio of 68.16. The stock has a market cap of C$215.08 million, a PE ratio of 9.89, a PEG ratio of -1.64 and a beta of 2.66.

About Cathedral Energy Services

Cathedral Energy Services Ltd., together with its subsidiaries, offers directional drilling services to oil and natural gas companies in western Canada and the United States. It provides horizontal and directional drilling services, measurement-while-drilling systems, positive displacement mud motors, rotary steerable systems, drilling jars, shock subs, drill collars, and drilling optimization and well planning services.