Brokers Offer Predictions for Surge Energy FY2024 Earnings

Surge Energy Inc. (TSE:SGY) – Atb Cap Markets cut their FY2024 earnings per share (EPS) estimates for Surge Energy in a research note issued to investors 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 analysts have also issued reports on the company. National Bankshares increased their price target on Surge Energy from C$11.00 to C$11.25 in a report on Friday, September 27th. Raymond James upgraded shares of Surge Energy to a “moderate buy” rating in a report on Thursday, October 17th. BMO Capital Markets raised their price objective on Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Canaccord Genuity Group dropped their target price on shares of Surge Energy from C$11.00 to C$10.50 in a research report on Tuesday, October 22nd. Finally, Cormark raised shares of Surge Energy to a “moderate buy” rating in a report on Monday, September 23rd. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$11.43.

Surge Energy Trading Down 1.4 %

TSE:SGY opened at C$5.57 on Monday. Surge Energy has a 12 month low of C$5.51 and a 12 month high of C$8.91. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 29.47. The stock has a market capitalization of C$558.78 million, a price-to-earnings ratio of 3.44, a PEG ratio of 0.59 and a beta of 2.54. The firm has a fifty day simple moving average of C$6.09 and a two-hundred day simple moving average of C$6.66.

Surge Energy Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 15th. Investors of record on Thursday, October 31st will be paid a dividend of $0.0433 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 9.33%. This is a positive change from Surge Energy’s previous monthly dividend of $0.04. The ex-dividend date is Thursday, October 31st. Surge Energy’s payout ratio is presently 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.