MEG Energy Corp (MEG) Given Consensus Recommendation of “Hold” by Analysts
Shares of MEG Energy Corp (TSE:MEG) have earned an average recommendation of “Buy” from the ten analysts that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$7.30.
A number of analysts have recently weighed in on MEG shares. CIBC cut their price objective on shares of MEG Energy Corp from C$8.00 to C$4.50 in a research note on Thursday, July 20th. National Bank Financial reiterated a “sector perform” rating and issued a C$4.75 price objective on shares of MEG Energy Corp in a research note on Tuesday, June 27th. GMP Securities lowered shares of MEG Energy Corp from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$8.50 to C$4.00 in a research note on Wednesday, June 28th. Finally, TD Securities increased their price objective on shares of MEG Energy Corp from C$5.50 to C$6.00 and gave the stock a “hold” rating in a research note on Friday, July 28th.
Shares of MEG Energy Corp (MEG) traded up 0.37% on Friday, hitting $5.40. 477,846 shares of the stock traded hands. The company’s market cap is $1.59 billion. MEG Energy Corp has a one year low of $3.28 and a one year high of $9.83. The stock has a 50 day moving average of $5.33 and a 200 day moving average of $5.16.
MEG Energy Corp (TSE:MEG) last released its quarterly earnings data on Thursday, July 27th. The company reported C($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of C($0.17) by C$0.05. The firm had revenue of C$574.03 million for the quarter. MEG Energy Corp had a net margin of 18.17% and a return on equity of 10.88%. Equities analysts anticipate that MEG Energy Corp will post ($0.60) earnings per share for the current year.
About MEG Energy Corp
MEG Energy Corp (MEG) is a Canada-based oil sands company. It is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is engaged in developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (SAGD) extraction methods.
Receive News & Ratings for MEG Energy Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MEG Energy Corp and related companies with MarketBeat.com's FREE daily email newsletter.