Cardinal Energy FY2024 EPS Forecast Cut by Atb Cap Markets

Cardinal Energy Ltd. (TSE:CJ) – Equities researchers at Atb Cap Markets decreased their FY2024 earnings estimates for shares of Cardinal Energy in a research report issued to clients and investors on Monday, January 6th. Atb Cap Markets analyst A. Arif now anticipates that the company will earn $0.66 per share for the year, down from their previous forecast of $0.69. 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 Q4 2024 earnings at $0.15 EPS.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank of Canada decreased their price target on shares of Cardinal Energy from C$8.00 to C$7.00 in a research note on Tuesday, September 17th. CIBC decreased their target price on shares of Cardinal Energy from C$8.75 to C$8.00 in a research report on Friday, November 8th. Finally, BMO Capital Markets dropped their price target on shares of Cardinal Energy from C$7.50 to C$7.00 in a research report on Friday, October 4th.

Cardinal Energy Trading Up 0.4 %

Cardinal Energy stock opened at C$6.80 on Thursday. The business has a 50 day moving average price of C$6.44 and a two-hundred day moving average price of C$6.60. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 9.04. Cardinal Energy has a 12 month low of C$5.98 and a 12 month high of C$7.38. The stock has a market cap of C$1.08 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81.

Cardinal Energy Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 10.59%. The ex-dividend date was Friday, November 29th. Cardinal Energy’s dividend payout ratio is currently 98.63%.

Insider Buying and Selling at Cardinal Energy

In related news, Director John Festival acquired 75,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average price 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 the stock in a transaction dated Friday, December 20th. The stock was bought at an average cost of C$6.12 per share, with a total value of C$61,160.00. In the last 90 days, insiders purchased 137,650 shares of company stock worth $852,718. 23.38% of the stock is currently owned by corporate insiders.

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.