Cormark Equities Analysts Raise Earnings Estimates for Painted Pony Petroleum Ltd (PPY)
Painted Pony Petroleum Ltd (TSE:PPY) – Research analysts at Cormark upped their FY2017 earnings per share (EPS) estimates for shares of Painted Pony Petroleum in a report issued on Wednesday. Cormark analyst G. Ursu now expects that the brokerage will post earnings of $0.51 per share for the year, up from their previous estimate of $0.43. Cormark also issued estimates for Painted Pony Petroleum’s Q4 2017 earnings at $0.21 EPS.
Several other equities analysts also recently issued reports on the stock. TD Securities downgraded shares of Painted Pony Petroleum from an “action list buy” rating to a “buy” rating and set a C$12.50 price target for the company. in a report on Tuesday, September 6th. FirstEnergy Capital boosted their price target on shares of Painted Pony Petroleum from C$12.50 to C$13.00 in a report on Friday, August 12th. Scotiabank reissued an “outperform” rating and set a C$9.50 price target on shares of Painted Pony Petroleum in a report on Thursday, August 11th. National Bank Financial reduced their price target on shares of Painted Pony Petroleum from C$10.00 to C$9.00 in a report on Thursday, August 11th. Finally, Desjardins boosted their price target on shares of Painted Pony Petroleum from C$8.75 to C$9.00 and gave the company a “buy” rating in a report on Thursday, August 11th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of C$8.67.
Painted Pony Petroleum (TSE:PPY) traded up 1.14% during mid-day trading on Thursday, hitting $8.00. 1,132,284 shares of the stock traded hands. Painted Pony Petroleum has a 1-year low of $2.71 and a 1-year high of $9.11. The firm’s market cap is $800.63 million. The stock has a 50-day moving average of $8.27 and a 200 day moving average of $6.82.
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About Painted Pony Petroleum
Painted Pony Petroleum Ltd. is a natural gas company in Western Canada. The Company’s principal business activity is the exploration, development and production of petroleum and natural gas resources in western Canada. It is focused on the development of natural gas and natural gas liquids from the Montney formation in Northeast British Columbia.
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