Spartan Delta (TSE:SDE) Reaches New 52-Week High - Here's What Happened

Key Points

• Spartan Delta shares reached a new 52-week high, trading as high as C$14.47 before closing around C$14.45, up from the prior close of C$13.99.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and an average price target of C$14.57; several firms have issued targets of C$17.00.
• The company 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.

Spartan Delta Corp. (TSE:SDE - Get Free Report)'s share price hit a new 52-week high on Monday. The company traded as high as C$14.47 and last traded at C$14.45, with a volume of 212,705 shares changing hands. The stock had previously closed at C$13.99.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SDE. Royal Bank Of Canada set a C$17.00 price objective on Spartan Delta and gave the company a "moderate buy" rating in a research report on Wednesday, September 23rd. Desjardins set a C$13.50 target price on Spartan Delta and gave the stock a "hold" rating in a research report on Friday, July 17th. TD upped their price target on 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. Finally, Scotiabank upgraded Spartan Delta to a "strong-buy" rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Spartan Delta has a consensus rating of "Buy" and a consensus price target of C$14.57.

Spartan Delta Stock Performance

The stock has a 50 day moving average price of C$13.11 and a two-hundred day moving average price of C$12.43. The company has a current ratio of 0.73, a quick ratio of 0.66 and a debt-to-equity ratio of 30.41. The company has a market cap of C$2.96 billion, a price-to-earnings ratio of 41.29 and a beta of 0.21.

Spartan Delta (TSE:SDE - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported C$0.20 EPS for the quarter. Spartan Delta had a return on equity of 10.71% and a net margin of 13.77%. The business had revenue of C$166.14 million during the quarter. Analysts predict that Spartan Delta Corp. will post 0.31 EPS for the current year.

Spartan Delta Company Profile

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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