Brokers Set Expectations for Cardinal Energy FY2024 Earnings

Cardinal Energy Ltd. (TSE:CJ) – Equities research analysts at Atb Cap Markets boosted their FY2024 EPS estimates for shares of Cardinal Energy in a research report issued to clients and investors on Wednesday, January 15th. Atb Cap Markets analyst A. Arif now expects that the company will post earnings of $0.68 per share for the year, up from their prior estimate of $0.66. 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 $0.16 EPS, Q4 2025 earnings at $0.12 EPS, FY2026 earnings at $0.43 EPS and FY2027 earnings at $0.26 EPS.

Several other brokerages also recently commented on CJ. BMO Capital Markets raised their price target on shares of Cardinal Energy from C$7.00 to C$7.50 in a report on Tuesday, January 14th. CIBC cut their price target on shares of Cardinal Energy from C$8.75 to C$8.00 in a report on Friday, November 8th.

Cardinal Energy Stock Down 0.9 %

Cardinal Energy stock opened at C$6.57 on Monday. The firm has a 50 day simple moving average of C$6.50 and a 200 day simple moving average of C$6.60. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 9.04. Cardinal Energy has a 1-year low of C$5.98 and a 1-year high of C$7.38. The firm has a market capitalization of C$1.05 billion, a price-to-earnings ratio of 9.00, a P/E/G ratio of -0.26 and a beta of 2.81.

Insider Transactions at Cardinal Energy

In other Cardinal Energy news, Director John Festival purchased 75,000 shares of the stock in a transaction on Monday, December 23rd. The stock was acquired at an average cost of C$6.20 per share, with a total value of C$465,000.00. Also, Director M. Scott Ratushny acquired 10,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was purchased at an average price of C$6.12 per share, for a total transaction of C$61,160.00. In the last ninety days, insiders purchased 137,650 shares of company stock valued at $852,718. Insiders own 23.38% of the company’s stock.

Cardinal Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.96%. The ex-dividend date is Friday, January 31st. Cardinal Energy’s dividend payout ratio is currently 98.63%.

Cardinal Energy Company Profile

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.