MEG Energy (MEG) to Release Quarterly Earnings on Tuesday

MEG Energy (TSE:MEG) will announce its earnings results after the market closes on Tuesday, July 30th. Analysts expect the company to announce earnings of C$0.19 per share for the quarter.

MEG Energy (TSE:MEG) last posted its earnings results on Monday, May 6th. The company reported C$0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.03 by C($0.01). The company had revenue of C$918.63 million for the quarter, compared to analyst estimates of C$684.74 million.

MEG Energy stock traded down C$0.04 during midday trading on Monday, reaching C$5.04. 267,037 shares of the stock were exchanged, compared to its average volume of 2,699,809. The firm has a fifty day simple moving average of C$5.07. The company has a current ratio of 1.33, a quick ratio of 1.12 and a debt-to-equity ratio of 102.93. The stock has a market cap of $1.51 billion and a price-to-earnings ratio of -4.84. MEG Energy has a 52 week low of C$4.06 and a 52 week high of C$11.70.

In related news, Director Robert Bruce Hodgins sold 7,033 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of C$4.34, for a total value of C$30,523.22. Following the completion of the sale, the director now directly owns 9,796 shares of the company’s stock, valued at C$42,514.64. Also, Senior Officer Grant Kenneth Donald Borbridge sold 9,927 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of C$4.34, for a total transaction of C$43,083.18. Following the completion of the sale, the insider now directly owns 31,972 shares of the company’s stock, valued at C$138,758.48.

A number of analysts recently weighed in on MEG shares. National Bank Financial decreased their target price on shares of Yangarra Resources from C$5.50 to C$5.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Raymond James decreased their price target on shares of Adaptimmune Therapeutics from $16.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, May 7th. Tudor Pickering & Holt reissued a “hold” rating on shares of MEG Energy in a report on Friday, June 7th. CSFB reissued a “neutral” rating and issued a C$32.00 price target on shares of Vermilion Energy in a report on Tuesday, July 16th. Finally, GMP Securities reissued a “buy” rating and issued a $22.25 price target on shares of SPDR Wells Fargo Preferred Stock ETF in a report on Friday, June 28th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of C$8.00.

MEG Energy Company Profile

MEG Energy Corp., an oil sands company, focuses on sustainable in situ development and production in the southern Athabasca oil sands region of Alberta. The company owns a 100% interest in approximately 900 square miles of oil sands leases in the southern Athabasca oil sands region of northern Alberta.

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Earnings History for MEG Energy (TSE:MEG)

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