Brokers Issue Forecasts for SurgePays, Inc.'s Q1 2024 Earnings (NASDAQ:SURG)

SurgePays, Inc. (NASDAQ:SURG - Free Report) - Equities research analysts at Sidoti Csr issued their Q1 2024 EPS estimates for SurgePays in a research report issued on Tuesday, April 23rd. Sidoti Csr analyst A. Soderstrom expects that the medical equipment provider will earn $0.27 per share for the quarter. Sidoti Csr also issued estimates for SurgePays' Q2 2024 earnings at $0.00 EPS, Q3 2024 earnings at $0.05 EPS, Q4 2024 earnings at $0.09 EPS, FY2024 earnings at $0.42 EPS, Q1 2025 earnings at $0.13 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.16 EPS, Q4 2025 earnings at $0.17 EPS and FY2025 earnings at $0.61 EPS.

SurgePays (NASDAQ:SURG - Get Free Report) last issued its earnings results on Tuesday, March 12th. The medical equipment provider reported $0.19 EPS for the quarter. SurgePays had a net margin of 15.03% and a return on equity of 104.66%. The firm had revenue of $32.32 million during the quarter.

Several other equities research analysts also recently commented on the stock. Maxim Group downgraded shares of SurgePays from a "buy" rating to a "hold" rating in a research note on Wednesday, March 13th. Ascendiant Capital Markets lowered their price objective on shares of SurgePays from $11.50 to $10.00 and set a "buy" rating for the company in a research report on Monday, April 1st.

SurgePays Trading Up 0.9 %

NASDAQ:SURG traded up $0.03 during trading hours on Thursday, hitting $3.36. The stock had a trading volume of 119,205 shares, compared to its average volume of 744,569. SurgePays has a one year low of $3.28 and a one year high of $9.23. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.91 and a current ratio of 2.63. The company has a market cap of $64.81 million, a price-to-earnings ratio of 2.42 and a beta of 1.08. The business's 50 day moving average is $5.13 and its 200-day moving average is $5.76.

Institutional Investors Weigh In On SurgePays

Several large investors have recently made changes to their positions in SURG. James Investment Research Inc. bought a new position in SurgePays in the third quarter valued at $47,000. Oxford Asset Management LLP bought a new position in SurgePays in the fourth quarter valued at $71,000. FNY Investment Advisers LLC bought a new position in SurgePays in the fourth quarter valued at $95,000. Jump Financial LLC lifted its stake in SurgePays by 44.7% in the fourth quarter. Jump Financial LLC now owns 16,500 shares of the medical equipment provider's stock valued at $106,000 after acquiring an additional 5,100 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in SurgePays in the fourth quarter valued at $106,000. Institutional investors own 6.94% of the company's stock.

SurgePays Company Profile

SurgePays, Inc, together with its subsidiaries, operates as a financial technology and telecom company in the United States. It operates through three segments: Mobile Virtual Network Operators, Comprehensive Platform Services, and Lead Generation. The company offers subsidized and non-subsidized mobile virtual network operators for internet connectivity through mobile broadband services to consumers; ACH banking relationships and fintech transactions platform to convenience stores; wireless top-up transactions and wireless product aggregation; and lead generation and case management solutions primarily to law firms in the mass tort industry, as well as call center activities.