Surge Energy FY2024 EPS Estimate Lowered by Atb Cap Markets

Surge Energy Inc. (TSE:SGY - Free Report) - Equities research analysts at Atb Cap Markets cut their FY2024 EPS estimates for shares of Surge Energy in a research report issued to clients and investors on Thursday, November 7th. Atb Cap Markets analyst A. Arif now forecasts that the company will post earnings per share of ($0.24) for the year, down from their prior estimate of ($0.17). Atb Cap Markets also issued estimates for Surge Energy's Q1 2025 earnings at $0.22 EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.16 EPS, Q4 2025 earnings at $0.15 EPS, FY2025 earnings at $0.76 EPS, FY2026 earnings at $0.37 EPS and FY2027 earnings at $0.08 EPS.

SGY has been the topic of a number of other research reports. BMO Capital Markets lifted their price target on shares of Surge Energy from C$10.00 to C$11.00 and gave the company an "outperform" rating in a research note on Wednesday, July 31st. Canaccord Genuity Group dropped their price target on shares of Surge Energy from C$11.00 to C$10.50 in a research note on Tuesday, October 22nd. Acumen Capital lifted their price target on shares of Surge Energy from C$12.25 to C$12.75 and gave the company a "strong-buy" rating in a research note on Thursday, August 1st. National Bankshares lifted their target price on shares of Surge Energy from C$11.00 to C$11.25 in a research note on Friday, September 27th. Finally, Raymond James raised shares of Surge Energy to a "moderate buy" rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Surge Energy presently has a consensus rating of "Buy" and a consensus price target of C$11.43.

Surge Energy Stock Performance

Shares of TSE:SGY traded down C$0.07 during trading on Monday, hitting C$5.58. 390,004 shares of the stock traded hands, compared to its average volume of 459,579. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 29.47. The company has a market cap of C$559.79 million, a price-to-earnings ratio of 3.49, a P/E/G ratio of 0.59 and a beta of 2.54. The company has a fifty day moving average price of C$6.11 and a two-hundred day moving average price of C$6.67. Surge Energy has a 52-week low of C$5.51 and a 52-week 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. Stockholders of record on Thursday, October 31st will be given a dividend of $0.0433 per share. This is a boost from Surge Energy's previous monthly dividend of $0.04. The ex-dividend date is Thursday, October 31st. This represents a $0.52 annualized dividend and a dividend yield of 9.31%. Surge Energy's payout ratio is presently 32.10%.

About Surge Energy

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.