Gear Energy Ltd. (TSE:GXE - Free Report) - Research analysts at Atb Cap Markets lowered their FY2024 earnings estimates for shares of Gear Energy in a report released on Thursday, November 7th. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings per share of $0.10 for the year, down from their previous forecast of $0.11. Atb Cap Markets has a "Hold" rating on the stock. The consensus estimate for Gear Energy's current full-year earnings is $0.14 per share. Atb Cap Markets also issued estimates for Gear Energy's Q4 2024 earnings at $0.02 EPS, FY2025 earnings at $0.09 EPS and FY2026 earnings at $0.02 EPS.
Gear Energy Trading Down 5.5 %
TSE:GXE traded down C$0.03 during mid-day trading on Monday, hitting C$0.52. 1,747,090 shares of the company's stock were exchanged, compared to its average volume of 419,773. The company has a 50 day simple moving average of C$0.59 and a 200-day simple moving average of C$0.66. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 6.26. Gear Energy has a fifty-two week low of C$0.52 and a fifty-two week high of C$0.80. The firm has a market capitalization of C$137.06 million, a P/E ratio of 11.00 and a beta of 3.52.
Insider Activity
In other Gear Energy news, Director Scott Robinson purchased 74,000 shares of the firm's stock in a transaction on Thursday, October 3rd. The stock was acquired at an average price of C$0.59 per share, for a total transaction of C$43,978.20. 7.62% of the stock is currently owned by company insiders.
Gear Energy Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.005 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.06 annualized dividend and a yield of 11.54%. Gear Energy's payout ratio is 120.00%.
About Gear Energy
(
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Gear Energy Ltd., an exploration and production company, engages in the acquiring, developing, and holding of interests in petroleum and natural gas properties and assets in Canada. The company's oil properties are located in Central Alberta, West Central Saskatchewan, and Southeast Saskatchewan.
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