FY2025 EPS Estimates for MEG Energy Increased by Analyst

MEG Energy Corp. (TSE:MEG - Free Report) - Investment analysts at Raymond James lifted their FY2025 earnings per share estimates for shares of MEG Energy in a note issued to investors on Wednesday, November 6th. Raymond James analyst M. Barth now anticipates that the company will post earnings of $2.50 per share for the year, up from their prior estimate of $2.47. The consensus estimate for MEG Energy's current full-year earnings is $2.27 per share. Raymond James also issued estimates for MEG Energy's FY2027 earnings at $2.31 EPS and FY2028 earnings at $2.33 EPS.

Several other equities research analysts have also recently issued reports on MEG. Scotiabank upgraded MEG Energy from a "sector perform" rating to an "outperform" rating and set a C$35.00 price objective on the stock in a report on Wednesday, September 25th. National Bankshares lowered their price objective on MEG Energy from C$35.00 to C$31.00 in a report on Friday, September 27th. Jefferies Financial Group lowered their price objective on MEG Energy from C$32.00 to C$26.00 and set a "hold" rating on the stock in a report on Monday, September 16th. BMO Capital Markets lowered their price objective on MEG Energy from C$37.00 to C$34.00 in a report on Friday, October 4th. Finally, TD Securities lifted their price objective on MEG Energy from C$35.00 to C$36.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of C$32.55.

MEG Energy Price Performance

MEG stock traded down C$0.53 during trading on Monday, hitting C$25.60. The stock had a trading volume of 750,751 shares, compared to its average volume of 1,662,327. The company has a debt-to-equity ratio of 26.35, a current ratio of 1.54 and a quick ratio of 1.17. MEG Energy has a twelve month low of C$22.79 and a twelve month high of C$33.70. The stock has a market capitalization of C$6.90 billion, a P/E ratio of 12.28, a PEG ratio of 0.17 and a beta of 2.89. The company's 50-day moving average price is C$25.94 and its two-hundred day moving average price is C$27.86.

MEG Energy (TSE:MEG - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported C$0.62 earnings per share for the quarter, missing analysts' consensus estimates of C$0.63 by C($0.01). MEG Energy had a net margin of 10.43% and a return on equity of 12.99%. The company had revenue of C$1.27 billion for the quarter, compared to analysts' expectations of C$1.33 billion.

Insider Activity at MEG Energy

In other news, Director Michael Mcallister bought 7,400 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of C$25.67 per share, with a total value of C$189,986.86. In related news, Director Michael Mcallister acquired 7,400 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of C$25.67 per share, with a total value of C$189,986.86. Also, Director James D. Mcfarland acquired 5,000 shares of the business's stock in a transaction dated Friday, August 30th. The shares were bought at an average cost of C$26.94 per share, for a total transaction of C$134,700.00. 0.33% of the stock is currently owned by insiders.

MEG Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Monday, December 16th. MEG Energy's dividend payout ratio is presently 19.05%.

About MEG Energy

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.