Surge Energy Inc. (TSE:SGY) to Post Q1 2024 Earnings of $0.12 Per Share, Atb Cap Markets Forecasts

Surge Energy Inc. (TSE:SGY - Free Report) - Stock analysts at Atb Cap Markets dropped their Q1 2024 earnings per share (EPS) estimates for shares of Surge Energy in a research note issued on Monday, April 22nd. Atb Cap Markets analyst A. Arif now expects that the company will post earnings per share of $0.12 for the quarter, down from their previous forecast of $0.17. The consensus estimate for Surge Energy's current full-year earnings is $1.01 per share. Atb Cap Markets also issued estimates for Surge Energy's Q2 2024 earnings at $0.12 EPS, Q3 2024 earnings at $0.16 EPS, Q4 2024 earnings at $0.21 EPS and FY2025 earnings at $0.48 EPS.

SGY has been the subject of several other research reports. Raymond James decreased their price objective on Surge Energy from C$14.00 to C$12.00 and set an "outperform" rating for the company in a report on Friday, January 19th. National Bankshares decreased their price objective on Surge Energy from C$13.00 to C$11.00 and set an "outperform" rating for the company in a report on Wednesday, January 10th. BMO Capital Markets set a C$10.00 price target on Surge Energy and gave the stock an "outperform" rating in a report on Thursday, March 21st. Finally, ATB Capital reduced their price target on Surge Energy from C$13.00 to C$10.50 and set an "outperform" rating for the company in a report on Thursday, January 18th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, Surge Energy presently has a consensus rating of "Buy" and a consensus target price of C$11.79.

Surge Energy Stock Up 2.8 %

Shares of TSE SGY traded up C$0.21 during mid-day trading on Tuesday, hitting C$7.75. The company had a trading volume of 415,106 shares, compared to its average volume of 435,996. The company has a market capitalization of C$779.50 million, a PE ratio of 4.65, a price-to-earnings-growth ratio of 0.59 and a beta of 2.66. The firm has a 50-day simple moving average of C$7.25 and a two-hundred day simple moving average of C$7.41. The company has a current ratio of 0.52, a quick ratio of 0.40 and a debt-to-equity ratio of 33.44. Surge Energy has a one year low of C$5.89 and a one year high of C$9.77.

Surge Energy (TSE:SGY - Get Free Report) last announced its quarterly earnings data on Wednesday, March 6th. The company reported C($0.29) earnings per share for the quarter, missing the consensus estimate of C$0.24 by C($0.53). The company had revenue of C$168.45 million during the quarter, compared to the consensus estimate of C$179.30 million. Surge Energy had a net margin of 2.82% and a return on equity of 1.87%.

Insider Transactions at Surge Energy

In other news, Senior Officer Jared Andrew Renton Ducs sold 3,933 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$7.42, for a total transaction of C$29,182.86. Corporate insiders own 1.91% of the company's stock.

Surge Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.04 per share. This represents a $0.48 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date of this dividend is Monday, April 29th. Surge Energy's payout ratio is currently 29.63%.

About Surge Energy

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.