Atb Cap Markets Forecasts Higher Earnings for Surge Energy

Surge Energy Inc. (TSE:SGY - Free Report) - Analysts at Atb Cap Markets increased their Q4 2024 earnings per share estimates for Surge Energy in a research note issued to investors on Thursday, November 7th. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings of $0.25 per share for the quarter, up from their previous estimate of $0.24.

SGY has been the topic of a number of other research reports. Canaccord Genuity Group decreased their price objective on shares of Surge Energy from C$11.00 to C$10.50 in a research report on Tuesday, October 22nd. National Bankshares upped their price target on Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Cormark upgraded Surge Energy to a "moderate buy" rating in a research report on Monday, September 23rd. Acumen Capital upped their target price on Surge Energy from C$12.25 to C$12.75 and gave the company a "strong-buy" rating in a report on Thursday, August 1st. Finally, Raymond James upgraded shares of Surge Energy to a "moderate buy" rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Surge Energy has a consensus rating of "Buy" and an average target price of C$11.43.

Surge Energy Trading Down 3.3 %

Shares of TSE SGY traded down C$0.19 during mid-day trading on Friday, hitting C$5.65. The stock had a trading volume of 1,186,478 shares, compared to its average volume of 459,900. The firm has a market cap of C$566.81 million, a P/E ratio of 3.60, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50. The business has a 50 day moving average price of C$6.13 and a two-hundred day moving average price of C$6.69. Surge Energy has a 1 year low of C$5.51 and a 1 year high of C$8.91.

Surge Energy Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be given a dividend of $0.0433 per share. The ex-dividend date is Thursday, October 31st. This is a positive change from Surge Energy's previous monthly dividend of $0.04. This represents a $0.52 annualized dividend and a dividend yield of 9.20%. Surge Energy's payout ratio is currently 32.10%.

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.