FY2024 EPS Estimates for Gear Energy Cut by Atb Cap Markets

Gear Energy Ltd. (TSE:GXE) – Investment analysts at Atb Cap Markets decreased their FY2024 earnings estimates for shares of Gear Energy in a research note issued to investors on Thursday, November 7th. Atb Cap Markets analyst A. Arif now anticipates that the company will earn $0.10 per share for the year, down from their prior forecast of $0.11. Atb Cap Markets currently has a “Hold” rating on the stock. The consensus estimate for Gear Energy’s current full-year earnings is $0.14 per share. Atb Cap Markets also issued estimates for Gear Energy’s Q4 2024 earnings at $0.02 EPS, FY2025 earnings at $0.09 EPS and FY2026 earnings at $0.02 EPS.

Gear Energy Trading Down 5.5 %

Shares of TSE:GXE opened at C$0.52 on Monday. The firm has a market cap of C$137.06 million, a price-to-earnings ratio of 10.40 and a beta of 3.52. The company has a quick ratio of 0.56, a current ratio of 0.95 and a debt-to-equity ratio of 6.26. Gear Energy has a 12 month low of C$0.52 and a 12 month high of C$0.80. The company’s fifty day simple moving average is C$0.59 and its 200 day simple moving average is C$0.66.

Gear Energy Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 29th will be issued a $0.005 dividend. This represents a $0.06 annualized dividend and a dividend yield of 11.54%. The ex-dividend date of this dividend is Friday, November 15th. Gear Energy’s payout ratio is 120.00%.

Insider Activity at Gear Energy

In other news, Director Scott Robinson bought 74,000 shares of the stock in a transaction that occurred on Thursday, October 3rd. The shares were acquired at an average cost of C$0.59 per share, for a total transaction of C$43,978.20. 7.62% of the stock is owned by company insiders.

About Gear Energy

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.