Brokers Offer Predictions for Surge Energy Inc’s FY2018 Earnings (SGY)
Surge Energy Inc (TSE:SGY) – Clarus Securities dropped their FY2018 earnings per share estimates for shares of Surge Energy in a research report issued to clients and investors on Thursday. Clarus Securities analyst R. Pare now forecasts that the company will post earnings of $0.05 per share for the year, down from their prior estimate of $0.10.
SGY has been the topic of a number of other research reports. TD Securities reiterated a “buy” rating and set a C$3.75 price target on shares of Surge Energy in a report on Thursday, April 20th. BMO Capital Markets boosted their price target on Surge Energy from C$3.00 to C$3.25 and gave the stock an “outperform” rating in a research report on Thursday, April 20th. Finally, Scotiabank boosted their price target on Surge Energy from C$3.15 to C$3.25 and gave the stock a “sector perform” rating in a research report on Thursday, April 20th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Surge Energy presently has an average rating of “Buy” and an average target price of C$3.38.
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Shares of Surge Energy (SGY) opened at 2.22 on Monday. The firm has a 50-day moving average price of $2.08 and a 200 day moving average price of $2.48. The firm’s market cap is $501.20 million. Surge Energy has a 12-month low of $1.91 and a 12-month high of $3.45.
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be paid a $0.008 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.10 annualized dividend and a dividend yield of 4.32%.
About Surge Energy
Surge Energy Inc engages in the exploration, development, and production of oil and gas properties in western Canada. The company holds working interests in the Valhalla/Wembley and Nipisi properties located in northwestern Alberta; the Windfall property located in western Alberta; and the Nevis property located to the east of Red Deer, Alberta covering an area of approximately 122,113 net developed acres.
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