FY2024 Earnings Forecast for Gear Energy Ltd. Issued By Atb Cap Markets (TSE:GXE)

Gear Energy Ltd. (TSE:GXE) – Equities research analysts at Atb Cap Markets dropped their FY2024 EPS estimates for Gear Energy in a research report issued on Wednesday, May 1st. Atb Cap Markets analyst A. Arif now expects that the company will post earnings per share of $0.09 for the year, down from their previous forecast of $0.10. The consensus estimate for Gear Energy’s current full-year earnings is $0.12 per share.

Gear Energy (TSE:GXE) last issued its earnings results on Wednesday, February 21st. The company reported C($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.05). Gear Energy had a net margin of 7.00% and a return on equity of 3.81%. The company had revenue of C$37.52 million during the quarter.

Separately, ATB Capital decreased their target price on Gear Energy from C$1.25 to C$1.00 and set an “outperform” rating on the stock in a research report on Thursday, January 18th.

Gear Energy Price Performance

Shares of TSE:GXE opened at C$0.76 on Monday. Gear Energy has a 12 month low of C$0.60 and a 12 month high of C$1.04. The firm has a market capitalization of C$198.85 million, a price-to-earnings ratio of 25.17 and a beta of 3.73. The business’s 50 day simple moving average is C$0.67 and its 200-day simple moving average is C$0.68. The company has a debt-to-equity ratio of 9.40, a current ratio of 1.10 and a quick ratio of 0.56.

Gear Energy Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 31st will be issued a dividend of $0.005 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.06 annualized dividend and a yield of 7.95%. Gear Energy’s dividend payout ratio (DPR) is currently 200.00%.

Insiders Place Their Bets

In related news, Director Don Gray acquired 705,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of C$0.73 per share, for a total transaction of C$515,015.00. Over the last quarter, insiders sold 103,000 shares of company stock worth $68,816. Insiders own 7.07% of the company’s stock.

About Gear Energy

Gear Energy Ltd., an exploration and production company, engages in the acquiring, developing, and holding of interests in petroleum and natural gas properties and assets in Canada. The company's oil properties are located in Central Alberta, West Central Saskatchewan, and Southeast Saskatchewan.