Royal Bank Of Canada Issues Positive Forecast for Tamarack Valley Energy (TSE:TVE) Stock Price

Key Points

• Royal Bank of Canada raised Tamarack Valley Energy's target price to C$12.00 (from C$11.00) and maintained an "outperform" rating, implying about a 5.54% upside from the prior close.
• Multiple brokers lifted targets this week and MarketBeat shows a consensus rating of Moderate Buy with an average target of C$10.44; the stock traded up ~4.1% to C$11.37, near its 52‑week high of C$12.00.
• Tamarack reported Q results with EPS of C$0.10 and revenue of C$304.6M, but still showed a negative net margin (-2.41%) and negative ROE (-1.84%), while analysts forecast roughly C$0.139 EPS for the year.

Tamarack Valley Energy (TSE:TVE - Get Free Report) had its target price boosted by equities research analysts at Royal Bank Of Canada from C$11.00 to C$12.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target points to a potential upside of 5.54% from the stock's previous close.

A number of other analysts have also issued reports on the company. Canaccord Genuity Group raised their target price on Tamarack Valley Energy from C$8.50 to C$9.00 and gave the company a "hold" rating in a report on Thursday, February 26th. Desjardins raised their target price on Tamarack Valley Energy from C$10.00 to C$10.50 and gave the company a "buy" rating in a report on Thursday, February 26th. ATB Cormark Capital Markets raised their target price on Tamarack Valley Energy from C$9.50 to C$11.50 and gave the company an "outperform" rating in a report on Thursday, February 26th. National Bank Financial raised their target price on Tamarack Valley Energy from C$10.00 to C$11.50 and gave the company an "outperform" rating in a report on Thursday, February 26th. Finally, Acumen Capital raised their target price on Tamarack Valley Energy from C$7.50 to C$10.50 and gave the company a "buy" rating in a report on Thursday, February 26th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of C$10.44.

Tamarack Valley Energy Stock Up 4.1%

Tamarack Valley Energy stock traded up C$0.45 during mid-day trading on Monday, hitting C$11.37. The company's stock had a trading volume of 2,002,891 shares, compared to its average volume of 2,286,563. The firm's 50 day moving average is C$10.37 and its 200 day moving average is C$8.38. The company has a market cap of C$5.51 billion, a PE ratio of -162.43 and a beta of 0.34. The company has a debt-to-equity ratio of 37.29, a current ratio of 0.90 and a quick ratio of 0.80. Tamarack Valley Energy has a 52-week low of C$3.50 and a 52-week high of C$12.00.

Tamarack Valley Energy (TSE:TVE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The company reported C$0.10 earnings per share (EPS) for the quarter. The firm had revenue of C$304.60 million during the quarter. Tamarack Valley Energy had a negative return on equity of 1.84% and a negative net margin of 2.41%. On average, analysts anticipate that Tamarack Valley Energy will post 0.1386527 earnings per share for the current year.

Tamarack Valley Energy Company Profile

Tamarack Valley Energy Ltd. engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the Western Canadian sedimentary basin. It primarily holds interests in Cardium light oil plays in Wilson Creek/Alder Flats/Pembina, and Garrington and Lochend areas in Alberta; Viking light oil resource plays in Redwater and Westlock in Alberta, as well as in the Consort area of southeast Alberta and Hoosier area of southwest Saskatchewan; Barons Sands light oil plays located in the Penny area of Southern Alberta; and heavy oil properties located in Hatton area of Saskatchewan.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.