MEG Energy FY2025 EPS Forecast Increased by Raymond James

MEG Energy Corp. (TSE:MEG) – Equities research analysts at Raymond James increased their FY2025 earnings estimates for MEG Energy in a research report issued to clients and investors on Wednesday, November 6th. Raymond James analyst M. Barth now anticipates that the company will earn $2.50 per share for the year, up from their previous forecast of $2.47. The consensus estimate for MEG Energy’s current full-year earnings is $2.27 per share. Raymond James also issued estimates for MEG Energy’s FY2027 earnings at $2.31 EPS and FY2028 earnings at $2.33 EPS.

MEG Energy (TSE:MEG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported C$0.62 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.63 by C($0.01). MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. The company had revenue of C$1.27 billion during the quarter, compared to analyst estimates of C$1.33 billion.

A number of other research firms also recently commented on MEG. Scotiabank raised MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 price objective on the stock in a research note on Wednesday, September 25th. National Bankshares cut their price target on shares of MEG Energy from C$35.00 to C$31.00 in a report on Friday, September 27th. Jefferies Financial Group lowered their price objective on shares of MEG Energy from C$32.00 to C$26.00 and set a “hold” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada cut their target price on shares of MEG Energy from C$35.00 to C$34.00 in a research note on Thursday, November 7th. Finally, BMO Capital Markets reduced their target price on shares of MEG Energy from C$37.00 to C$34.00 in a report on Friday, October 4th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$32.55.

MEG Energy Stock Performance

MEG opened at C$25.84 on Monday. The business has a 50 day moving average price of C$25.94 and a two-hundred day moving average price of C$27.86. The company has a debt-to-equity ratio of 26.35, a current ratio of 1.54 and a quick ratio of 1.17. The company has a market capitalization of C$6.96 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. MEG Energy has a 1-year low of C$22.79 and a 1-year high of C$33.70.

MEG Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a $0.10 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.55%. MEG Energy’s payout ratio is currently 19.05%.

Insider Transactions at MEG Energy

In other MEG Energy news, Director James D. Mcfarland acquired 5,000 shares of MEG Energy stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average cost of C$26.94 per share, with a total value of C$134,700.00. In other news, Director Michael Mcallister bought 7,400 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of C$25.67 per share, with a total value of C$189,986.86. Also, Director James D. Mcfarland bought 5,000 shares of MEG Energy stock in a transaction on Friday, August 30th. The stock was acquired at an average price of C$26.94 per share, with a total value of C$134,700.00. 0.33% of the stock is currently owned by insiders.

About MEG Energy

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.