Spartan Delta (TSE:SDE) Downgraded by Desjardins to “Hold”

Desjardins cut shares of Spartan Delta (TSE:SDE) from a buy rating to a hold rating in a report published on Tuesday morning, BayStreet.CA reports. Desjardins currently has C$4.50 price objective on the stock.

Several other brokerages have also recently commented on SDE. BMO Capital Markets set a C$5.50 price target on shares of Spartan Delta and gave the stock an outperform rating in a research report on Tuesday, April 9th. National Bankshares increased their price objective on shares of Spartan Delta from C$4.50 to C$5.00 and gave the stock an outperform rating in a research note on Friday, April 19th. TD Securities dropped their price objective on shares of Spartan Delta from C$4.50 to C$4.25 and set a buy rating on the stock in a research note on Tuesday, February 27th. ATB Capital dropped their price objective on shares of Spartan Delta from C$4.50 to C$4.25 and set a sector perform rating on the stock in a research note on Tuesday, February 27th. Finally, Raymond James dropped their price objective on shares of Spartan Delta from C$6.50 to C$5.00 and set an outperform rating on the stock in a research note on Friday, January 19th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Spartan Delta currently has a consensus rating of Moderate Buy and a consensus target price of C$6.29.

Spartan Delta Stock Performance

Shares of SDE stock opened at C$4.14 on Tuesday. The company has a debt-to-equity ratio of 18.55, a quick ratio of 0.66 and a current ratio of 0.89. Spartan Delta has a one year low of C$2.63 and a one year high of C$16.66. The company’s 50-day simple moving average is C$3.58 and its 200-day simple moving average is C$3.45. The stock has a market capitalization of C$717.05 million, a price-to-earnings ratio of 1.08 and a beta of 1.75.

Spartan Delta (TSE:SDE) last issued its quarterly earnings results on Monday, February 26th. The company reported C$0.18 EPS for the quarter, topping the consensus estimate of C$0.12 by C$0.06. Spartan Delta had a net margin of 111.86% and a return on equity of 68.13%. The business had revenue of C$77.32 million for the quarter. Equities analysts anticipate that Spartan Delta will post 0.3506013 earnings per share for the current fiscal year.

Spartan Delta Company Profile

Spartan Delta Corp. engages in the exploration, development, and production of oil and natural gas reserves in the Western Canada. Its assets are located in Montney and Deep Basin. The company was formerly known as Return Energy Inc and changed its name to Spartan Delta Corp. in May 2020. The company was incorporated in 2006 and is headquartered in Calgary, Canada.