Spartan Delta Corp. (TSE:SDE) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Analysts give Spartan Delta an average “Buy” rating: Eight of ten brokerages rate the stock a buy, one rates it a hold, and one assigns a strong-buy rating. The average 12-month price target is C$13.84.
• Recent analyst actions were positive, with Scotiabank upgrading the stock to “strong buy” and TD raising its price target to C$17.00; Desjardins maintained a hold rating with a C$13.50 target.
• Spartan Delta reported quarterly revenue of C$166.14 million and earnings of C$0.20 per share. Shares opened at C$13.48, near their 52-week high of C$14.40, while the company posted a 13.77% net margin.

Shares of Spartan Delta Corp. (TSE:SDE - Get Free Report) have received an average recommendation of "Buy" from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is C$13.84.

A number of equities analysts recently issued reports on SDE shares. Scotiabank upgraded Spartan Delta to a "strong-buy" rating in a research note on Friday, June 26th. TD increased their target price on shares of Spartan Delta from C$16.00 to C$17.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Finally, Desjardins set a C$13.50 price target on Spartan Delta and gave the stock a "hold" rating in a report on Friday, July 17th.

Spartan Delta Price Performance

Shares of SDE stock opened at C$13.48 on Friday. Spartan Delta has a 1-year low of C$5.00 and a 1-year high of C$14.40. The stock's 50-day moving average is C$12.28 and its 200 day moving average is C$12.12. The company has a debt-to-equity ratio of 30.41, a current ratio of 0.73 and a quick ratio of 0.66. The company has a market cap of C$2.77 billion, a P/E ratio of 38.51 and a beta of 0.24.

Spartan Delta (TSE:SDE - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported C$0.20 earnings per share (EPS) for the quarter. Spartan Delta had a net margin of 13.77% and a return on equity of 10.71%. The business had revenue of C$166.14 million for the quarter. Research analysts predict that Spartan Delta will post 0.305004 earnings per share for the current fiscal year.

About Spartan Delta

Spartan is committed to creating value for its shareholders, focused on sustainability in both operations and financial performance. The Company's culture is centered on generating Free Funds Flow through responsible oil and gas exploration and development. The Company has established a portfolio of high-quality production and development opportunities in the Deep Basin and the Duvernay. Spartan will continue to focus on the execution of the Company's organic drilling program across its portfolio, delivering operational synergies in a respectful and responsible manner in relation to the environment and communities it operates in.

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