Analysts Issue Forecasts for Cardinal Energy FY2024 Earnings

Cardinal Energy Ltd. (TSE:CJ) – Analysts at Atb Cap Markets reduced their FY2024 earnings per share (EPS) estimates for shares of Cardinal Energy in a report released on Monday, February 24th. Atb Cap Markets analyst A. Arif now anticipates that the company will post earnings per share of $0.67 for the year, down from their previous forecast of $0.68. Atb Cap Markets currently has a “Hold” rating on the stock. The consensus estimate for Cardinal Energy’s current full-year earnings is $0.63 per share. Atb Cap Markets also issued estimates for Cardinal Energy’s Q1 2025 earnings at $0.15 EPS, Q2 2025 earnings at $0.13 EPS, Q3 2025 earnings at $11.00 EPS, FY2025 earnings at $0.51 EPS, FY2026 earnings at $0.45 EPS and FY2027 earnings at $0.27 EPS.

Several other analysts have also recently weighed in on CJ. CIBC lowered their price target on Cardinal Energy from C$8.75 to C$8.00 in a report on Friday, November 8th. BMO Capital Markets increased their price objective on Cardinal Energy from C$7.00 to C$7.50 in a research report on Tuesday, January 14th.

Cardinal Energy Stock Performance

TSE:CJ opened at C$6.42 on Thursday. The business’s 50-day moving average price is C$6.51 and its two-hundred day moving average price is C$6.53. Cardinal Energy has a twelve month low of C$5.98 and a twelve month high of C$7.38. The stock has a market cap of C$1.02 billion, a P/E ratio of 9.92, a PEG ratio of -0.26 and a beta of 2.81. The company has a quick ratio of 0.67, a current ratio of 0.50 and a debt-to-equity ratio of 8.05.

Cardinal Energy Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 17th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.72 annualized dividend and a dividend yield of 11.21%. Cardinal Energy’s dividend payout ratio (DPR) is presently 111.27%.

Insider Activity

In related news, Director John Festival purchased 75,000 shares of Cardinal Energy stock in a transaction that occurred on Monday, December 23rd. The shares were acquired at an average cost of C$6.20 per share, for a total transaction of C$465,000.00. Also, Director M. Scott Ratushny purchased 10,000 shares of Cardinal Energy stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of C$6.12 per share, for a total transaction of C$61,160.00. Corporate insiders own 23.38% of the company’s stock.

About Cardinal Energy

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.