Q4 EPS Estimates for Surge Energy Raised by Atb Cap Markets

Surge Energy Inc. (TSE:SGY) – Equities research analysts at Atb Cap Markets raised their Q4 2024 earnings estimates for Surge Energy in a research report issued on Thursday, November 7th. Atb Cap Markets analyst A. Arif now forecasts that the company will post earnings of $0.25 per share for the quarter, up from their prior estimate of $0.24.

Several other brokerages have also recently commented on SGY. National Bankshares increased their price target on shares of Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Cormark raised Surge Energy to a “moderate buy” rating in a report on Monday, September 23rd. Raymond James upgraded Surge Energy to a “moderate buy” rating in a research report on Thursday, October 17th. BMO Capital Markets upped their price target on Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Acumen Capital boosted their target price 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. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of C$11.43.

Surge Energy Trading Down 3.3 %

TSE SGY opened at C$5.65 on Friday. The company’s fifty day moving average price is C$6.11 and its two-hundred day moving average price is C$6.68. The company has a market capitalization of C$566.81 million, a price-to-earnings ratio of 3.49, a price-to-earnings-growth ratio of 0.59 and a beta of 2.54. Surge Energy has a 12 month low of C$5.51 and a 12 month high of C$8.91. The company has a debt-to-equity ratio of 29.47, a current ratio of 0.50 and a quick ratio of 0.40.

Surge Energy Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be given a $0.0433 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This is a positive change from Surge Energy’s previous monthly dividend of $0.04. This represents a $0.52 annualized dividend and a yield of 9.20%. Surge Energy’s dividend payout ratio (DPR) is currently 32.10%.

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.