Atb Cap Markets Expects Lower Earnings for Cardinal Energy

Cardinal Energy Ltd. (TSE:CJ - Free Report) - Atb Cap Markets reduced their FY2024 earnings per share (EPS) estimates for Cardinal Energy in a report released on Friday, November 8th. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings of $0.68 per share for the year, down from their previous forecast of $0.78. 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, Q1 2025 earnings at $0.17 EPS, Q2 2025 earnings at $0.18 EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.13 EPS, FY2025 earnings at $0.60 EPS and FY2026 earnings at $0.31 EPS.

A number of other analysts have also recently commented on CJ. BMO Capital Markets lowered their target price on shares of Cardinal Energy from C$7.50 to C$7.00 in a research note on Friday, October 4th. Royal Bank of Canada cut their target price on Cardinal Energy from C$8.00 to C$7.00 in a research report on Tuesday, September 17th. Finally, CIBC lowered their price target on Cardinal Energy from C$8.75 to C$8.00 in a research report on Friday.

Cardinal Energy Stock Down 0.6 %

Shares of Cardinal Energy stock traded down C$0.04 on Monday, reaching C$6.22. The stock had a trading volume of 577,300 shares, compared to its average volume of 640,665. Cardinal Energy has a 1 year low of C$5.75 and a 1 year high of C$7.38. The company has a 50 day moving average price of C$6.48 and a 200 day moving average price of C$6.73. 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 stock has a market capitalization of C$990.10 million, a P/E ratio of 8.58, a P/E/G ratio of -0.26 and a beta of 2.81.

Cardinal Energy Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be given a $0.06 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 11.58%. Cardinal Energy's dividend payout ratio (DPR) is 98.63%.

Insider Transactions at Cardinal Energy

In other news, Director John Festival purchased 50,050 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average cost of C$6.20 per share, for a total transaction of C$310,310.00. In related news, Director John Festival purchased 50,050 shares of Cardinal Energy stock in a transaction dated Monday, November 11th. The shares were acquired at an average price of C$6.20 per share, for a total transaction of C$310,310.00. Also, Director John Albert Brussa purchased 6,400 shares of Cardinal Energy stock in a transaction dated Wednesday, September 25th. The shares were purchased at an average cost of C$6.40 per share, for a total transaction of C$40,960.00. Corporate insiders own 23.38% of the company's stock.

About Cardinal Energy

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.