Equities Analysts Offer Predictions for Crescent Point Energy Corp.’s FY2023 Earnings (TSE:CPG)

Crescent Point Energy Corp. (TSE:CPG – Get Rating) (NYSE:CPG) – Equities research analysts at Stifel Firstegy raised their FY2023 earnings per share estimates for Crescent Point Energy in a report released on Thursday, May 19th. Stifel Firstegy analyst C. Kwong now anticipates that the company will earn $2.24 per share for the year, up from their prior estimate of $2.06.

Crescent Point Energy (TSE:CPG – Get Rating) (NYSE:CPG) last announced its earnings results on Thursday, March 3rd. The company reported C$0.27 earnings per share for the quarter, missing the consensus estimate of C$0.34 by C($0.07). The business had revenue of C$900.40 million for the quarter.

CPG has been the subject of a number of other research reports. TD Securities boosted their target price on Crescent Point Energy from C$12.00 to C$12.50 and gave the stock an “action list buy” rating in a report on Friday, March 4th. Raymond James increased their price objective on Crescent Point Energy from C$10.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Friday, March 25th. Stifel Nicolaus raised their price objective on Crescent Point Energy from C$13.75 to C$15.50 in a research note on Friday, May 13th. Scotiabank boosted their price target on Crescent Point Energy from C$8.50 to C$11.00 in a research note on Tuesday, March 8th. Finally, Royal Bank of Canada boosted their target price on Crescent Point Energy from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research report on Friday, March 4th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$12.48.

Shares of Crescent Point Energy stock opened at C$9.71 on Monday. The firm’s fifty day simple moving average is C$9.16 and its 200-day simple moving average is C$7.99. Crescent Point Energy has a 12 month low of C$3.67 and a 12 month high of C$10.08. The company has a debt-to-equity ratio of 30.21, a current ratio of 0.46 and a quick ratio of 0.37. The stock has a market capitalization of C$5.56 billion and a price-to-earnings ratio of 1.62.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 1st. Shareholders of record on Friday, April 1st were given a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 1.85%. This is a positive change from Crescent Point Energy’s previous quarterly dividend of $0.03. The ex-dividend date was Monday, March 14th. Crescent Point Energy’s dividend payout ratio is presently 1.33%.

About Crescent Point Energy (Get Rating)

Crescent Point Energy Corp. explores, develops, and produces light and medium crude oil, natural gas liquids, and natural gas reserves in Western Canada and the United States. It's crude oil and natural gas properties, and related assets are located in the provinces of Saskatchewan, Alberta, British Columbia, and Manitoba; and the states of North Dakota and Montana.

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