Atb Cap Markets Forecasts Reduced Earnings for Surge Energy

Surge Energy Inc. (TSE:SGY) – Equities researchers at Atb Cap Markets reduced their FY2024 earnings estimates for shares of 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 ($0.24) per share for the year, down from their previous estimate of ($0.17). Atb Cap Markets also issued estimates for Surge Energy’s Q1 2025 earnings at $0.22 EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.16 EPS, Q4 2025 earnings at $0.15 EPS, FY2025 earnings at $0.76 EPS, FY2026 earnings at $0.37 EPS and FY2027 earnings at $0.08 EPS.

Several other research firms also recently issued reports on SGY. National Bankshares upped their price objective on shares of Surge Energy from C$11.00 to C$11.25 in a report on Friday, September 27th. Canaccord Genuity Group dropped their price objective on Surge Energy from C$11.00 to C$10.50 in a research note on Tuesday, October 22nd. Raymond James raised Surge Energy to a “moderate buy” rating in a research report on Thursday, October 17th. Cormark raised Surge Energy to a “moderate buy” rating in a report on Monday, September 23rd. Finally, BMO Capital Markets upped their price target on Surge Energy from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$11.43.

Surge Energy Price Performance

Shares of TSE:SGY opened at C$5.47 on Monday. The company has a debt-to-equity ratio of 29.47, a current ratio of 0.50 and a quick ratio of 0.40. The stock has a market capitalization of C$548.75 million, a P/E ratio of 3.38, a P/E/G ratio of 0.59 and a beta of 2.54. The business has a 50-day moving average of C$6.07 and a two-hundred day moving average of C$6.64. Surge Energy has a fifty-two week low of C$5.47 and a fifty-two week high of C$8.91.

Surge Energy Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be issued a $0.0433 dividend. This is a boost from Surge Energy’s previous monthly dividend of $0.04. The ex-dividend date is Thursday, October 31st. This represents a $0.52 annualized dividend and a yield of 9.50%. Surge Energy’s dividend payout ratio is 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.