National Bankshares Issues Positive Forecast for Spartan Delta (TSE:SDE) Stock Price

Spartan Delta (TSE:SDE) had its price target upped by equities researchers at National Bankshares from C$5.75 to C$6.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bankshares’ price objective would indicate a potential upside of 102.70% from the stock’s previous close.

A number of other analysts have also commented on the company. Cormark raised Spartan Delta to a “strong-buy” rating in a research note on Monday, September 23rd. BMO Capital Markets cut their target price on shares of Spartan Delta from C$6.00 to C$5.00 in a research report on Friday, December 13th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of C$5.56.

Spartan Delta Price Performance

SDE stock traded up C$0.01 during mid-day trading on Thursday, hitting C$2.96. The stock had a trading volume of 231,304 shares, compared to its average volume of 288,840. The firm has a fifty day simple moving average of C$3.42 and a 200 day simple moving average of C$3.78. The firm has a market capitalization of C$512.67 million, a P/E ratio of 3.57 and a beta of 1.49. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 30.43. Spartan Delta has a 52 week low of C$2.78 and a 52 week high of C$4.36.

Spartan Delta (TSE:SDE) last released its earnings results on Tuesday, November 5th. The company reported C$0.02 earnings per share (EPS) for the quarter. The firm had revenue of C$60.55 million for the quarter. Spartan Delta had a return on equity of 37.82% and a net margin of 50.10%. As a group, research analysts forecast that Spartan Delta will post 0.305004 EPS for the current year.

About Spartan Delta

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.