Surge Energy Inc (TSE:SGY) Forecasted to Post Q2 2017 Earnings of $0.01 Per Share

Surge Energy Inc (TSE:SGY) – Investment analysts at Cormark dropped their Q2 2017 earnings per share estimates for shares of Surge Energy in a research note issued to investors on Monday. Cormark analyst G. Ursu now forecasts that the company will post earnings of $0.01 per share for the quarter, down from their previous forecast of $0.02. Cormark also issued estimates for Surge Energy’s Q3 2017 earnings at $0.02 EPS and Q4 2017 earnings at $0.03 EPS.

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SGY has been the subject of several other reports. Scotiabank raised their target price on Surge Energy from C$3.15 to C$3.25 and gave the company a “sector perform” rating in a research note on Thursday, April 20th. TD Securities reiterated a “buy” rating and set a C$3.75 price target on shares of Surge Energy in a research note on Thursday, April 20th. Finally, BMO Capital Markets lifted their price target on Surge Energy from C$3.00 to C$3.25 and gave the company an “outperform” rating in a research note 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. Surge Energy has an average rating of “Buy” and a consensus price target of C$3.38.

Surge Energy (TSE:SGY) opened at 2.07 on Tuesday. The firm’s market capitalization is $467.34 million. Surge Energy has a 52-week low of $1.91 and a 52-week high of $3.45. The stock’s 50 day moving average price is $2.07 and its 200 day moving average price is $2.53.

In related news, Director Paul Colborne purchased 49,590 shares of the business’s stock in a transaction on Friday, April 28th. The stock was acquired at an average price of C$2.69 per share, for a total transaction of C$133,397.10. Insiders have acquired a total of 128,967 shares of company stock valued at $313,403 in the last quarter.

The business 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 $0.008 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.10 dividend on an annualized basis and a yield of 4.64%.

About Surge Energy

Surge Energy Inc is a Canada-based oil and gas exploration, development and production company. The Company’s principal oil and natural gas producing properties are located in Alberta and Saskatchewan, and focused on over three core areas: Western Alberta, Southeast Alberta and Southwest Saskatchewan.

Earnings History and Estimates for Surge Energy (TSE:SGY)

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