FY2016 Earnings Estimate for Surge Energy Inc (SGY) Issued By Cormark
Surge Energy Inc (TSE:SGY) – Stock analysts at Cormark dropped their FY2016 earnings estimates for shares of Surge Energy in a research report issued on Thursday. Cormark analyst G. Ursu now anticipates that the firm will earn ($0.05) per share for the year, down from their previous forecast of ($0.03). Cormark also issued estimates for Surge Energy’s Q4 2016 earnings at $0.01 EPS, Q1 2017 earnings at $0.02 EPS, Q2 2017 earnings at $0.02 EPS, Q3 2017 earnings at $0.03 EPS and FY2017 earnings at $0.12 EPS.
Several other analysts have also weighed in on SGY. CIBC initiated coverage on shares of Surge Energy in a report on Wednesday, June 15th. They set an “underperform” rating and a C$2.50 price objective for the company. Scotiabank reissued a “sector perform” rating and set a C$3.00 price target on shares of Surge Energy in a research note on Friday, July 22nd. TD Securities reissued a “buy” rating and set a C$3.25 price target on shares of Surge Energy in a research note on Friday, July 22nd. National Bank Financial decreased their price target on shares of Surge Energy from C$3.50 to C$3.00 in a research note on Wednesday, August 3rd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a C$2.75 price target on shares of Surge Energy in a research note on Wednesday, September 7th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of C$2.97.
Shares of Surge Energy (TSE:SGY) opened at 2.83 on Monday. Surge Energy has a 52 week low of $1.40 and a 52 week high of $3.71. The firm’s 50-day moving average is $2.51 and its 200 day moving average is $2.40. The firm’s market capitalization is $625.56 million.
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In other news, Director Paul Colborne purchased 10,000 shares of Surge Energy stock in a transaction dated Thursday, September 8th. The shares were bought at an average cost of C$2.58 per share, with a total value of C$25,800.00.
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