Analysts Set Expectations for Cardinal Energy Ltd.’s FY2022 Earnings (TSE:CJ)

Cardinal Energy Ltd. (TSE:CJGet Rating) – Equities research analysts at Stifel Firstegy lifted their FY2022 EPS estimates for shares of Cardinal Energy in a research report issued to clients and investors on Thursday, May 19th. Stifel Firstegy analyst C. Kwong now forecasts that the company will post earnings per share of $1.47 for the year, up from their prior estimate of $1.33. Stifel Firstegy also issued estimates for Cardinal Energy’s FY2023 earnings at $1.06 EPS.

Cardinal Energy (TSE:CJGet Rating) last announced its quarterly earnings results on Monday, March 14th. The company reported C$0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.14 by C$0.10. The company had revenue of C$140.41 million for the quarter.

Several other research firms also recently weighed in on CJ. BMO Capital Markets increased their price target on shares of Cardinal Energy from C$6.00 to C$6.50 in a research report on Tuesday, January 25th. Raymond James lifted their price objective on shares of Cardinal Energy from C$7.00 to C$8.50 and gave the company an “outperform” rating in a report on Friday, March 25th. Royal Bank of Canada raised their target price on shares of Cardinal Energy from C$6.00 to C$8.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 15th. Finally, Stifel Nicolaus upped their price target on shares of Cardinal Energy from C$9.25 to C$11.00 in a research note on Monday, May 16th.

Shares of TSE CJ opened at C$9.37 on Monday. The company has a market cap of C$1.42 billion and a PE ratio of 4.15. The firm’s 50 day moving average price is C$7.48 and its 200-day moving average price is C$5.94. Cardinal Energy has a 52-week low of C$2.63 and a 52-week high of C$9.73. The company has a debt-to-equity ratio of 19.49, a quick ratio of 0.94 and a current ratio of 0.94.

Cardinal Energy Company Profile (Get Rating)

Cardinal Energy Ltd. engages in the acquisition, exploration, and production of low decline light, medium, and heavy quality oil, and natural gas in Western Canada. It has operations in the provinces of Alberta and Saskatchewan. As of February 24, 2022, the company had total proved plus probable oil and gas reserves are 110,391 thousand barrels of oil equivalent.

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