Spartan Delta Corp. (TSE:SDE) Stock Rated "Buy" by Sell-Side Brokerages

Key Points

• Analysts broadly favor Spartan Delta: Eleven research firms give the stock an average “Buy” rating, including nine buys, one strong buy, and one hold. The average 12-month price target is C$14.10.
• Recent broker actions were mostly positive, with TD raising its target to C$17.00, RBC setting a C$17.00 target, and Scotiabank upgrading the stock to “strong buy”; Desjardins maintained a “hold” rating with a C$13.50 target.
• Spartan Delta reported quarterly EPS of C$0.20 on revenue of C$166.14 million, alongside a 13.77% net margin and 10.71% return on equity. Shares opened at C$13.35, near their 52-week high of C$14.40.

Shares of Spartan Delta Corp. (TSE:SDE - Get Free Report) have received an average recommendation of "Buy" from the eleven research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is C$14.10.

A number of research firms have recently commented on SDE. TD upped their price objective on shares of Spartan Delta from C$16.00 to C$17.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Royal Bank Of Canada set a C$17.00 target price on shares of Spartan Delta and gave the company a "moderate buy" rating in a report on Wednesday, September 23rd. Desjardins set a C$13.50 price target on shares of Spartan Delta and gave the stock a "hold" rating in a research note on Friday, July 17th. Finally, Scotiabank upgraded shares of Spartan Delta to a "strong-buy" rating in a report on Friday, June 26th.

Spartan Delta Price Performance

Shares of TSE:SDE opened at C$13.35 on Thursday. The company has a market cap of C$2.74 billion, a P/E ratio of 38.14 and a beta of 0.21. The company has a quick ratio of 0.66, a current ratio of 0.73 and a debt-to-equity ratio of 30.41. Spartan Delta has a 52 week low of C$5.24 and a 52 week high of C$14.40. The business has a fifty day simple moving average of C$12.77 and a 200-day simple moving average of C$12.37.

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