Q3 2017 EPS Estimates for Cardinal Energy Ltd Raised by Cormark (CJ)
Cardinal Energy Ltd (TSE:CJ) – Cormark increased their Q3 2017 earnings per share (EPS) estimates for Cardinal Energy in a research note issued to investors on Thursday. Cormark analyst G. Ursu now expects that the company will earn ($0.03) per share for the quarter, up from their prior estimate of ($0.05). Cormark also issued estimates for Cardinal Energy’s Q4 2017 earnings at ($0.02) EPS, FY2017 earnings at $0.03 EPS and Q4 2018 earnings at $0.04 EPS.
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Several other brokerages have also weighed in on CJ. BMO Capital Markets initiated coverage on Cardinal Energy in a research report on Wednesday, April 12th. They issued an “outperform” rating for the company. Scotiabank decreased their price target on Cardinal Energy from C$11.00 to C$10.00 and set an “outperform” rating on the stock in a research note on Friday, May 5th. Royal Bank Of Canada decreased their price target on Cardinal Energy from C$11.00 to C$8.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th. TD Securities decreased their price target on Cardinal Energy from C$9.00 to C$8.00 and set a “buy” rating on the stock in a research note on Friday, May 5th. Finally, Raymond James Financial, Inc. restated a “market perform” rating and set a C$6.75 price target on shares of Cardinal Energy in a research note on Tuesday, June 13th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of C$8.21.
Shares of Cardinal Energy (CJ) opened at 4.18 on Monday. Cardinal Energy has a 52 week low of $4.10 and a 52 week high of $10.81. The company’s 50 day moving average price is $4.68 and its 200-day moving average price is $6.64. The company’s market capitalization is $254.56 million.
In other news, Director M. Scott Ratushny purchased 10,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of C$4.20 per share, for a total transaction of C$42,000.00.
The company also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.035 per share. This represents a $0.42 dividend on an annualized basis and a yield of 10.05%. The ex-dividend date is Thursday, July 27th.
About Cardinal Energy
Cardinal Energy Ltd. is a Canada-based oil-focused company. The Company is engaged in the acquisition, exploration and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan. Its Wainwright properties are located approximately 200 kilometers southeast of Edmonton, Alberta.
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