Atb Cap Markets Has Weak Outlook for TSE:PEY FY2024 Earnings

Peyto Exploration & Development Corp. (TSE:PEY) – Analysts at Atb Cap Markets dropped their FY2024 EPS estimates for Peyto Exploration & Development in a report issued on Wednesday, November 13th. Atb Cap Markets analyst A. Arif now forecasts that the company will post earnings per share of $1.54 for the year, down from their prior estimate of $1.55.

Other equities research analysts also recently issued research reports about the company. TD Securities dropped their price objective on Peyto Exploration & Development from C$19.00 to C$18.00 in a research report on Tuesday, October 1st. Atlantic Securities raised their price target on shares of Peyto Exploration & Development from C$17.50 to C$18.50 and gave the company an “outperform” rating in a report on Monday, October 7th. Finally, National Bankshares boosted their price objective on shares of Peyto Exploration & Development from C$18.00 to C$18.50 in a research note on Friday, September 27th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$17.60.

Peyto Exploration & Development Trading Up 1.7 %

Shares of TSE:PEY opened at C$15.51 on Thursday. The company has a market capitalization of C$3.03 billion, a PE ratio of 10.01, a P/E/G ratio of -0.46 and a beta of 1.75. The company has a current ratio of 1.15, a quick ratio of 0.32 and a debt-to-equity ratio of 50.02. Peyto Exploration & Development has a 12-month low of C$11.09 and a 12-month high of C$16.32. The business’s fifty day simple moving average is C$15.11 and its 200-day simple moving average is C$14.95.

Peyto Exploration & Development (TSE:PEY) last posted its earnings results on Tuesday, August 13th. The company reported C$0.26 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.27 by C($0.01). The company had revenue of C$256.55 million for the quarter, compared to analysts’ expectations of C$257.10 million. Peyto Exploration & Development had a return on equity of 11.86% and a net margin of 32.88%.

Insider Activity

In other news, Senior Officer Todd Burdick sold 57,810 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$14.41, for a total value of C$832,845.55. Also, Director Stephen Jonathan Chetner sold 3,831 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of C$14.80, for a total transaction of C$56,698.80. Over the last ninety days, insiders have purchased 35,675 shares of company stock valued at $522,419 and have sold 188,740 shares valued at $2,744,924. Corporate insiders own 2.36% of the company’s stock.

Peyto Exploration & Development Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.32 annualized dividend and a dividend yield of 8.51%. Peyto Exploration & Development’s payout ratio is currently 85.16%.

About Peyto Exploration & Development

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids in Deep Basin of Alberta. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.