Brokers Issue Forecasts for Baytex Energy Corp.’s Q3 2024 Earnings (TSE:BTE)

Baytex Energy Corp. (TSE:BTE) (NYSE:BTE) – Analysts at Atb Cap Markets dropped their Q3 2024 EPS estimates for shares of Baytex Energy in a report issued on Monday, April 22nd. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings of $0.19 per share for the quarter, down from their previous estimate of $0.20. The consensus estimate for Baytex Energy’s current full-year earnings is $0.74 per share. Atb Cap Markets also issued estimates for Baytex Energy’s FY2025 earnings at $0.60 EPS, FY2027 earnings at $0.14 EPS and FY2028 earnings at $0.14 EPS.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets set a C$6.00 price target on shares of Baytex Energy and gave the company a “market perform” rating in a research note on Tuesday, April 9th. TD Securities decreased their price objective on shares of Baytex Energy from C$6.50 to C$6.00 and set a “buy” rating for the company in a research report on Thursday, February 29th. ATB Capital decreased their price objective on shares of Baytex Energy from C$6.50 to C$6.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. CIBC lifted their price objective on shares of Baytex Energy from C$6.00 to C$6.50 and gave the company a “neutral” rating in a research report on Monday. Finally, National Bankshares decreased 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 research report on Wednesday, January 10th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$6.53.

Baytex Energy Stock Up 1.9 %

Shares of BTE stock opened at C$5.33 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 63.80. Baytex Energy has a 1 year low of C$3.83 and a 1 year high of C$6.37. The firm’s fifty day moving average price is C$4.79 and its two-hundred day moving average price is C$4.85. The firm has a market capitalization of C$4.38 billion, a P/E ratio of -16.15, a PEG ratio of 0.12 and a beta of 2.78.

Baytex Energy (TSE:BTE) (NYSE:BTE) last issued its quarterly earnings results on Wednesday, February 28th. The company reported C$0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.13 by C$0.12. Baytex Energy had a negative net margin of 8.60% and a negative return on equity of 6.81%. The firm had revenue of C$1.07 billion for the quarter.

Baytex Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.023 per share. This represents a $0.09 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Thursday, March 14th. Baytex Energy’s payout ratio is -27.27%.

Insider Buying and Selling

In related news, Senior Officer Eric Thomas Greager bought 20,000 shares of Baytex Energy stock in a transaction that occurred on Wednesday, March 6th. The stock was acquired at an average price of C$4.25 per share, with a total value of C$85,000.00. In other Baytex Energy news, Senior Officer Eric Thomas Greager acquired 20,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was acquired at an average price of C$4.25 per share, for a total transaction of C$85,000.00. Also, Director Tiffany Thom Cepak sold 40,000 shares of Baytex Energy stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$3.55, for a total transaction of C$142,000.00. 0.73% of the stock is currently owned by insiders.

Baytex Energy Company Profile

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.