Q1 2024 EPS Estimates for Surge Energy Inc. (TSE:SGY) Cut by Atb Cap Markets

Surge Energy Inc. (TSE:SGY) – Atb Cap Markets reduced their Q1 2024 earnings per share (EPS) estimates for shares of Surge Energy in a note issued to investors on Monday, April 22nd. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings of $0.12 per share for the quarter, down from their previous forecast of $0.17. The consensus estimate for Surge Energy’s current full-year earnings is $1.01 per share. Atb Cap Markets also issued estimates for Surge Energy’s Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.21 EPS and FY2025 earnings at $0.48 EPS.

Surge Energy (TSE:SGY) last posted its quarterly earnings data on Wednesday, March 6th. The company reported C($0.29) earnings per share for the quarter, missing the consensus estimate of C$0.24 by C($0.53). Surge Energy had a return on equity of 1.87% and a net margin of 2.82%. The company had revenue of C$168.45 million during the quarter, compared to the consensus estimate of C$179.30 million.

Several other analysts have also recently commented on SGY. Raymond James dropped their target price on shares of Surge Energy from C$14.00 to C$12.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. BMO Capital Markets set a C$10.00 target price on shares of Surge Energy and gave the company an “outperform” rating in a research report on Thursday, March 21st. ATB Capital decreased their price target on shares of Surge Energy from C$13.00 to C$10.50 and set an “outperform” rating for the company in a report on Thursday, January 18th. Finally, National Bankshares decreased their price target on shares of Surge Energy from C$13.00 to C$11.00 and set an “outperform” rating for the company in a report on Wednesday, January 10th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average target price of C$11.79.

Surge Energy Stock Performance

SGY stock opened at C$7.67 on Tuesday. The company has a 50 day moving average price of C$7.28 and a 200 day moving average price of C$7.40. The stock has a market capitalization of C$771.45 million, a PE ratio of 4.73, a price-to-earnings-growth ratio of 0.59 and a beta of 2.66. Surge Energy has a fifty-two week low of C$5.89 and a fifty-two week high of C$9.77. The company has a debt-to-equity ratio of 33.44, a current ratio of 0.52 and a quick ratio of 0.40.

Surge Energy Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be paid a $0.04 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date of this dividend is Monday, April 29th. Surge Energy’s payout ratio is presently 29.63%.

Insider Buying and Selling

In related news, Senior Officer Jared Andrew Renton Ducs sold 3,933 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of C$7.42, for a total value of C$29,182.86. Company insiders own 1.91% of the company’s stock.

Surge Energy Company Profile

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.