Cormark Analysts Lift Earnings Estimates for Surge Energy Inc (SGY)
Surge Energy Inc (TSE:SGY) – Stock analysts at Cormark boosted their FY2017 earnings per share estimates for Surge Energy in a note issued to investors on Thursday. Cormark analyst G. Ursu now expects that the company will earn $0.10 per share for the year, up from their previous estimate of $0.09.
Several other equities analysts have also recently issued reports on SGY. Scotiabank lifted their price target on Surge Energy from C$3.15 to C$3.25 and gave the company a “sector perform” rating in a research report on Thursday, April 20th. TD Securities restated a “buy” rating and issued a C$3.75 target price on shares of Surge Energy in a report on Thursday, April 20th. Finally, BMO Capital Markets lifted their target price on Surge Energy from C$3.00 to C$3.25 and gave the stock an “outperform” rating in a 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 stock. The company has an average rating of “Buy” and a consensus target price of C$3.38.
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The business also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a $0.008 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date is Thursday, July 27th.
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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