FY2024 EPS Estimates for Cardinal Energy Lifted by Analyst

Cardinal Energy Ltd. (TSE:CJ) – Atb Cap Markets lifted their FY2024 EPS estimates for shares of Cardinal Energy in a research note issued on Wednesday, January 15th. Atb Cap Markets analyst A. Arif now forecasts that the company will post earnings of $0.68 per share for the year, up from their prior estimate of $0.66. The consensus estimate for Cardinal Energy’s current full-year earnings is $0.63 per share. Atb Cap Markets also issued estimates for Cardinal Energy’s Q4 2024 earnings at $0.16 EPS, Q4 2025 earnings at $0.12 EPS, FY2026 earnings at $0.43 EPS and FY2027 earnings at $0.26 EPS.

CJ has been the subject of several other research reports. BMO Capital Markets upped their target price on shares of Cardinal Energy from C$7.00 to C$7.50 in a report on Tuesday, January 14th. CIBC dropped their price objective on Cardinal Energy from C$8.75 to C$8.00 in a research note on Friday, November 8th.

Cardinal Energy Price Performance

TSE CJ opened at C$6.72 on Monday. The business’s fifty day moving average is C$6.50 and its 200 day moving average is C$6.60. Cardinal Energy has a fifty-two week low of C$5.98 and a fifty-two week high of C$7.38. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.67 and a current ratio of 0.73. The company has a market capitalization of C$1.07 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81.

Cardinal Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, January 31st. This represents a $0.72 dividend on an annualized basis and a yield of 10.71%. Cardinal Energy’s payout ratio is 98.63%.

Insider Activity at Cardinal Energy

In related news, Director M. Scott Ratushny acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of C$6.12 per share, for a total transaction of C$61,160.00. Also, Director John Festival acquired 50,050 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average cost of C$6.20 per share, for a total transaction of C$310,310.00. Over the last quarter, insiders bought 137,650 shares of company stock worth $852,718. Company insiders own 23.38% of the company’s stock.

About Cardinal Energy

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.