Surge Energy (TSE:SGY – Get Free Report) had its price target raised by research analysts at National Bankshares from C$11.00 to C$11.25 in a research note issued to investors on Friday, BayStreet.CA reports. National Bankshares’ target price would suggest a potential upside of 89.39% from the stock’s current price.
Several other brokerages also recently weighed in on SGY. Cormark raised shares of Surge Energy to a “moderate buy” rating in a research note on Monday. BMO Capital Markets lifted their price target on shares of Surge Energy from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Acumen Capital upped their price objective 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. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Surge Energy currently has an average rating of “Buy” and an average target price of C$11.93.
Check Out Our Latest Stock Analysis on SGY
Surge Energy Price Performance
Surge Energy (TSE:SGY – Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported C$0.32 EPS for the quarter, missing analysts’ consensus estimates of C$0.34 by C($0.02). Surge Energy had a negative net margin of 14.28% and a negative return on equity of 10.03%. The company had revenue of C$173.17 million for the quarter, compared to analyst estimates of C$174.40 million. As a group, research analysts predict that Surge Energy will post 0.838256 EPS for the current year.
Surge Energy Company Profile
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.
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