Surge Energy Inc. (TSE:SGY) to Post FY2024 Earnings of $0.62 Per Share, Atb Cap Markets Forecasts

Surge Energy Inc. (TSE:SGY) – Equities researchers at Atb Cap Markets decreased their FY2024 earnings per share (EPS) estimates for Surge Energy in a note issued to investors on Monday, April 22nd. Atb Cap Markets analyst A. Arif now forecasts that the company will earn $0.62 per share for the year, down from their prior estimate of $0.83. 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 FY2026 earnings at ($0.19) EPS, FY2027 earnings at ($0.11) EPS and FY2028 earnings at ($0.05) EPS.

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

Surge Energy Trading Up 1.7 %

SGY opened at C$7.80 on Wednesday. Surge Energy has a one year low of C$5.89 and a one year high of C$9.77. The stock has a market capitalization of C$784.52 million, a PE ratio of 4.81, a P/E/G ratio of 0.59 and a beta of 2.66. The business’s 50 day moving average price is C$7.30 and its 200 day moving average price is C$7.40. The company has a debt-to-equity ratio of 33.44, a quick ratio of 0.40 and a current ratio of 0.52.

Surge Energy (TSE:SGY) last released its quarterly earnings data on Wednesday, March 6th. The company reported C($0.29) EPS for the quarter, missing analysts’ consensus estimates of C$0.24 by C($0.53). Surge Energy had a net margin of 2.82% and a return on equity of 1.87%. The business had revenue of C$168.45 million during the quarter, compared to analyst estimates of C$179.30 million.

Insider Activity at Surge Energy

In related news, Senior Officer Jared Andrew Renton Ducs sold 12,515 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of C$7.98, for a total value of C$99,869.70. 1.91% of the stock is currently owned by corporate insiders.

Surge Energy Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, April 30th will be issued a $0.04 dividend. This represents a $0.48 annualized dividend and a yield of 6.15%. The ex-dividend date is Monday, April 29th. Surge Energy’s dividend payout ratio (DPR) is presently 29.63%.

Surge Energy Company Profile

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.