Brokers Issue Forecasts for Baytex Energy Corp.'s FY2023 Earnings (TSE:BTE)

Baytex Energy Corp. (TSE:BTE - Free Report) NYSE: BTE - Stock analysts at Atb Cap Markets cut their FY2023 earnings estimates for shares of Baytex Energy in a report released on Wednesday, January 17th. Atb Cap Markets analyst A. Arif now forecasts that the company will post earnings of $0.75 per share for the year, down from their previous forecast of $0.84. The consensus estimate for Baytex Energy's current full-year earnings is $0.86 per share. Atb Cap Markets also issued estimates for Baytex Energy's Q4 2023 earnings at $0.16 EPS.

Baytex Energy (TSE:BTE - Get Free Report) NYSE: BTE last announced its earnings results on Thursday, November 2nd. The company reported C$0.15 EPS for the quarter, missing the consensus estimate of C$0.24 by C($0.09). The company had revenue of C$1.16 billion for the quarter. Baytex Energy had a return on equity of 19.99% and a net margin of 31.01%.

A number of other research firms also recently issued reports on BTE. National Bankshares cut their price objective on shares of Baytex Energy from C$8.25 to C$7.25 and set an "outperform" rating for the company in a report on Wednesday, January 10th. BMO Capital Markets upped their price target on shares of Baytex Energy from C$8.00 to C$8.50 in a report on Friday, November 3rd. Stifel Nicolaus cut their price target on shares of Baytex Energy from C$8.25 to C$7.00 and set a "buy" rating for the company in a report on Thursday, December 7th. Scotiabank upped their price target on shares of Baytex Energy from C$6.00 to C$6.75 and gave the stock a "sector perform" rating in a report on Monday, October 16th. Finally, ATB Capital cut their price target on shares of Baytex Energy from C$7.00 to C$6.50 and set an "outperform" rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$7.20.

Baytex Energy Stock Performance

TSE BTE opened at C$4.02 on Monday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 56.30. The company has a market capitalization of C$3.40 billion, a P/E ratio of 3.30, a P/E/G ratio of 0.12 and a beta of 2.58. Baytex Energy has a 12-month low of C$3.83 and a 12-month high of C$6.37. The firm has a 50-day moving average price of C$4.64 and a two-hundred day moving average price of C$5.18.

Baytex Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Tuesday, January 2nd were paid a dividend of $0.023 per share. This represents a $0.09 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, December 14th. Baytex Energy's payout ratio is currently 7.38%.

About Baytex Energy

Baytex Energy Corp., an energy company, engages in the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford, the United States. The company offers light oil and condensate, heavy oil, natural gas liquids, and natural gas.

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