Spartan Delta (TSE:SDE) Issues Earnings Results

Spartan Delta (TSE:SDE) posted its earnings results on Tuesday. The company reported C$0.06 EPS for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.01), reports. The firm had revenue of C$84.15 million for the quarter. Spartan Delta had a net margin of 111.86% and a return on equity of 68.13%.

Spartan Delta Trading Up 2.1 %

TSE SDE opened at C$4.30 on Thursday. The company has a market cap of C$744.76 million, a price-to-earnings ratio of 1.13 and a beta of 1.75. The business has a 50 day moving average price of C$3.73 and a 200-day moving average price of C$3.44. Spartan Delta has a 52 week low of C$2.63 and a 52 week high of C$16.66. The company has a quick ratio of 0.66, a current ratio of 0.89 and a debt-to-equity ratio of 18.55.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SDE shares. Raymond James reduced their price target on Spartan Delta from C$6.50 to C$5.00 and set an “outperform” rating for the company in a research report on Friday, January 19th. National Bankshares upped their price objective on shares of Spartan Delta from C$5.00 to C$5.50 in a report on Wednesday. ATB Capital reduced their target price on shares of Spartan Delta from C$4.50 to C$4.25 and set a “sector perform” rating on the stock in a report on Tuesday, February 27th. CIBC raised their target price on Spartan Delta from C$3.75 to C$4.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Finally, BMO Capital Markets set a C$5.50 target price on Spartan Delta and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$5.36.

About Spartan Delta

Spartan Delta Corp. engages in the exploration, development, and production of oil and natural gas reserves in the Western Canada. Its assets are located in Montney and Deep Basin. The company was formerly known as Return Energy Inc and changed its name to Spartan Delta Corp. in May 2020. The company was incorporated in 2006 and is headquartered in Calgary, Canada.