Spartan Delta (TSE:SDE) Posts Earnings Results, Misses Expectations By $0.01 EPS

Posted by Teresa Graham on May 10th, 2024

Spartan Delta (TSE:SDE – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported C$0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.01), reports. Spartan Delta had a return on equity of 68.13% and a net margin of 111.86%. The company had revenue of C$84.15 million for the quarter.

Spartan Delta Stock Performance

SDE opened at C$4.28 on Friday. The firm has a market cap of C$741.30 million, a P/E ratio of 1.12 and a beta of 1.75. Spartan Delta has a 52-week low of C$2.63 and a 52-week high of C$16.66. The company has a debt-to-equity ratio of 18.55, a quick ratio of 0.66 and a current ratio of 0.89. The business’s fifty day moving average is C$3.75 and its 200-day moving average is C$3.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Cormark increased their price target on Spartan Delta from C$6.50 to C$7.50 in a research note on Wednesday. Desjardins lowered Spartan Delta from a “buy” rating to a “hold” rating and set a C$4.50 price objective on the stock. in a report on Tuesday, April 23rd. CIBC raised Spartan Delta from a “neutral” rating to an “outperform” rating and upped their price objective for the company from C$4.00 to C$6.00 in a report on Thursday. TD Securities decreased their price objective on Spartan Delta from C$4.50 to C$4.25 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Finally, Stifel Nicolaus upped their price objective on Spartan Delta from C$5.75 to C$6.00 in a report on Thursday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Spartan Delta has a consensus rating of “Moderate Buy” and an average price target of C$5.73.

Read Our Latest Analysis on SDE

Spartan Delta Company Profile

(Get Free Report)

Spartan Delta Corp. engages in the exploration, development, and production of oil and natural gas reserves in the Western Canada. Its assets are located in Montney and Deep Basin. The company was formerly known as Return Energy Inc and changed its name to Spartan Delta Corp. in May 2020. The company was incorporated in 2006 and is headquartered in Calgary, Canada.