Gear Energy Ltd. (TSE:GXE - Get Free Report)'s stock price hit a new 52-week low during trading on Wednesday . The company traded as low as C$0.57 and last traded at C$0.58, with a volume of 273680 shares changing hands. The stock had previously closed at C$0.60.
Wall Street Analyst Weigh In
Separately, Atb Cap Markets cut Gear Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 15th.
Read Our Latest Stock Report on GXE
Gear Energy Price Performance
The company has a market capitalization of C$152.88 million, a PE ratio of 11.60 and a beta of 3.52. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 6.26. The company's 50 day moving average price is C$0.62 and its 200-day moving average price is C$0.68.
Gear Energy (TSE:GXE - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported C$0.04 earnings per share for the quarter, meeting the consensus estimate of C$0.04. Gear Energy had a return on equity of 5.36% and a net margin of 9.65%. The business had revenue of C$40.76 million for the quarter, compared to analyst estimates of C$40.20 million. On average, sell-side analysts forecast that Gear Energy Ltd. will post 0.1399549 earnings per share for the current fiscal year.
Gear Energy Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a dividend of $0.005 per share. The ex-dividend date is Tuesday, October 15th. This represents a $0.06 annualized dividend and a dividend yield of 10.34%. Gear Energy's payout ratio is 120.00%.
Insiders Place Their Bets
In other Gear Energy news, Director Scott Robinson purchased 74,000 shares of Gear Energy stock in a transaction that occurred on Thursday, October 3rd. The stock was purchased at an average price of C$0.59 per share, with a total value of C$43,978.20. 7.62% of the stock is currently owned by insiders.
About Gear Energy
(
Get Free Report)
Gear Energy Ltd., an exploration and production company, engages in the acquiring, developing, and holding of interests in petroleum and natural gas properties and assets in Canada. The company's oil properties are located in Central Alberta, West Central Saskatchewan, and Southeast Saskatchewan.
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