FY2024 EPS Forecast for Cardinal Energy Increased by Analyst

Cardinal Energy Ltd. (TSE:CJ - Free Report) - Research analysts at Atb Cap Markets upped their FY2024 earnings estimates for shares of Cardinal Energy in a research report issued on Wednesday, January 15th. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings of $0.68 per share for the year, up from their prior estimate of $0.66. The consensus estimate for Cardinal Energy's current full-year earnings is $0.63 per share. Atb Cap Markets also issued estimates for Cardinal Energy's Q4 2024 earnings at $0.16 EPS, Q4 2025 earnings at $0.12 EPS, FY2026 earnings at $0.43 EPS and FY2027 earnings at $0.26 EPS.

CJ has been the topic of a number of other reports. CIBC dropped their price objective on shares of Cardinal Energy from C$8.75 to C$8.00 in a research note on Friday, November 8th. BMO Capital Markets raised their price target on shares of Cardinal Energy from C$7.00 to C$7.50 in a research report on Tuesday, January 14th.

Cardinal Energy Stock Up 2.3 %

TSE:CJ traded up C$0.15 during trading hours on Monday, reaching C$6.72. The company had a trading volume of 690,055 shares, compared to its average volume of 755,101. Cardinal Energy has a twelve month low of C$5.98 and a twelve month high of C$7.38. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 9.04. The firm has a market cap of C$1.07 billion, a price-to-earnings ratio of 9.21, a P/E/G ratio of -0.26 and a beta of 2.81. The business's 50-day simple moving average is C$6.50 and its two-hundred day simple moving average is C$6.60.

Insider Activity

In other Cardinal Energy news, Director M. Scott Ratushny purchased 10,000 shares of the business's stock in a transaction on Friday, December 20th. The stock was acquired at an average cost of C$6.12 per share, for a total transaction of C$61,160.00. Also, Director John Festival purchased 50,050 shares of Cardinal Energy stock in a transaction that occurred on Monday, November 11th. The shares were bought at an average price of C$6.20 per share, for a total transaction of C$310,310.00. In the last three months, insiders have bought 137,650 shares of company stock worth $852,718. 23.38% of the stock is currently owned by insiders.

Cardinal Energy Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be issued a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.71%. The ex-dividend date of this dividend is Friday, January 31st. Cardinal Energy's payout ratio is currently 98.63%.

Cardinal Energy Company Profile

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.