SurgePays, Inc. Expected to Post Q1 2024 Earnings of $0.27 Per Share (NASDAQ:SURG)

SurgePays, Inc. (NASDAQ:SURG) – Analysts at Sidoti Csr issued their Q1 2024 earnings per share estimates for SurgePays in a research report issued to clients and investors on Tuesday, April 23rd. Sidoti Csr analyst A. Soderstrom expects that the medical equipment provider will post earnings per share of $0.27 for the quarter. Sidoti Csr also issued estimates for SurgePays’ Q2 2024 earnings at $0.00 EPS, Q3 2024 earnings at $0.05 EPS, Q4 2024 earnings at $0.09 EPS, FY2024 earnings at $0.42 EPS, Q1 2025 earnings at $0.13 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.16 EPS, Q4 2025 earnings at $0.17 EPS and FY2025 earnings at $0.61 EPS.

SurgePays (NASDAQ:SURG) last released its quarterly earnings results on Tuesday, March 12th. The medical equipment provider reported $0.19 earnings per share (EPS) for the quarter. SurgePays had a return on equity of 104.66% and a net margin of 15.03%. The firm had revenue of $32.32 million for the quarter.

A number of other equities analysts have also issued reports on the company. Ascendiant Capital Markets lowered their price target on SurgePays from $11.50 to $10.00 and set a “buy” rating on the stock in a report on Monday, April 1st. Maxim Group downgraded shares of SurgePays from a “buy” rating to a “hold” rating in a research report on Wednesday, March 13th.

SurgePays Stock Performance

NASDAQ SURG opened at $3.36 on Thursday. The company has a quick ratio of 1.91, a current ratio of 2.63 and a debt-to-equity ratio of 0.02. SurgePays has a 52-week low of $3.28 and a 52-week high of $9.23. The business’s 50-day moving average price is $5.13 and its 200 day moving average price is $5.76. The firm has a market cap of $64.81 million, a P/E ratio of 2.42 and a beta of 1.08.

Institutional Investors Weigh In On SurgePays

A number of hedge funds have recently added to or reduced their stakes in SURG. FNY Investment Advisers LLC purchased a new position in shares of SurgePays during the 4th quarter worth approximately $95,000. James Investment Research Inc. purchased a new stake in SurgePays in the 3rd quarter worth approximately $47,000. Bailard Inc. grew its stake in SurgePays by 340.9% in the 3rd quarter. Bailard Inc. now owns 59,075 shares of the medical equipment provider’s stock worth $276,000 after acquiring an additional 45,675 shares during the period. Jump Financial LLC grew its stake in shares of SurgePays by 44.7% during the 4th quarter. Jump Financial LLC now owns 16,500 shares of the medical equipment provider’s stock valued at $106,000 after buying an additional 5,100 shares during the period. Finally, Victory Capital Management Inc. purchased a new stake in shares of SurgePays during the 4th quarter valued at $106,000. Institutional investors and hedge funds own 6.94% of the company’s stock.

SurgePays Company Profile

SurgePays, Inc, together with its subsidiaries, operates as a financial technology and telecom company in the United States. It operates through three segments: Mobile Virtual Network Operators, Comprehensive Platform Services, and Lead Generation. The company offers subsidized and non-subsidized mobile virtual network operators for internet connectivity through mobile broadband services to consumers; ACH banking relationships and fintech transactions platform to convenience stores; wireless top-up transactions and wireless product aggregation; and lead generation and case management solutions primarily to law firms in the mass tort industry, as well as call center activities.