Atb Cap Markets Weighs in on Surge Energy Inc.’s FY2024 Earnings (TSE:SGY)

Surge Energy Inc. (TSE:SGY) – Research analysts at Atb Cap Markets dropped their FY2024 earnings per share estimates for shares of Surge Energy in a research note issued on Monday, April 22nd. Atb Cap Markets analyst A. Arif now forecasts that the company will post earnings of $0.62 per share for the year, down from their previous estimate of $0.83. 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 FY2026 earnings at ($0.19) EPS, FY2027 earnings at ($0.11) EPS and FY2028 earnings at ($0.05) EPS.

A number of other brokerages have also weighed in on SGY. ATB Capital lowered their price objective on Surge Energy from C$13.00 to C$10.50 and set an “outperform” rating for the company in a research note on Thursday, January 18th. 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 research report on Wednesday, January 10th. Raymond James dropped their price target on shares of Surge Energy from C$14.00 to C$12.00 and set an “outperform” rating for the company in a research note on Friday, January 19th. Finally, BMO Capital Markets set a C$10.00 price objective on shares of Surge Energy and gave the company an “outperform” rating in a research note on Thursday, March 21st. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Surge Energy currently has a consensus rating of “Buy” and a consensus price target of C$11.79.

Surge Energy Stock Up 2.8 %

Shares of Surge Energy stock opened at C$7.75 on Wednesday. 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 has a 1-year low of C$5.89 and a 1-year high of C$9.77. The business has a 50-day moving average of C$7.28 and a 200-day moving average of C$7.40. The company has a market capitalization of C$779.50 million, a PE ratio of 4.78, a P/E/G ratio of 0.59 and a beta of 2.66.

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

Insider Transactions at Surge Energy

In other Surge Energy news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$7.98, for a total value of C$99,869.70. Insiders own 1.91% of the company’s stock.

Surge Energy Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.04 per share. This represents a $0.48 annualized dividend and a dividend yield of 6.19%. The ex-dividend date is Monday, April 29th. Surge Energy’s dividend payout ratio (DPR) is presently 29.63%.

About Surge Energy

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.