Pine Cliff Energy (TSE:PNE) – Investment analysts at Cormark reduced their Q2 2018 earnings per share (EPS) estimates for Pine Cliff Energy in a note issued to investors on Wednesday, May 9th. Cormark analyst A. Arif now forecasts that the company will earn ($0.03) per share for the quarter, down from their previous forecast of ($0.02). Cormark also issued estimates for Pine Cliff Energy’s Q4 2018 earnings at ($0.01) EPS, FY2018 earnings at ($0.12) EPS and FY2019 earnings at ($0.08) EPS.
A number of other equities research analysts have also commented on the company. TD Securities upped their price target on Pine Cliff Energy from C$0.30 to C$0.40 and gave the company a “hold” rating in a research report on Thursday. National Bank Financial upped their price target on Pine Cliff Energy from C$0.30 to C$0.35 and gave the company a “sector perform” rating in a research report on Thursday, April 12th. CIBC boosted their price objective on Pine Cliff Energy from C$0.35 to C$0.40 in a research note on Tuesday, March 20th. Canaccord Genuity dropped their price objective on Pine Cliff Energy from C$0.80 to C$0.60 in a research note on Wednesday, March 14th. Finally, Desjardins dropped their price objective on Pine Cliff Energy from C$0.50 to C$0.40 in a research note on Wednesday, February 14th.
Pine Cliff Energy (TSE:PNE) last released its quarterly earnings results on Tuesday, March 13th. The company reported C($0.04) EPS for the quarter, missing analysts’ consensus estimates of C($0.03) by C($0.01). Pine Cliff Energy had a negative net margin of 126.46% and a negative return on equity of 69.00%. The company had revenue of C$27.38 million during the quarter, compared to the consensus estimate of C$26.30 million.
In other Pine Cliff Energy news, insider Robert Disbrow acquired 100,000 shares of the company’s stock in a transaction dated Friday, April 20th. The shares were bought at an average cost of C$0.30 per share, with a total value of C$30,000.00. Also, insider George Frederick Fink acquired 131,000 shares of the company’s stock in a transaction dated Monday, April 2nd. The stock was acquired at an average cost of C$0.31 per share, for a total transaction of C$40,610.00. Insiders bought a total of 649,000 shares of company stock worth $193,195 over the last three months.
About Pine Cliff Energy
Pine Cliff Energy Ltd. engages in the acquisition, exploration for, development, and production of natural gas, crude oil, and natural gas liquids in the Western Canadian Sedimentary Basin.The company primarily holds interests in natural gas assets in the Southern core area and Edson core area; and oil and natural gas assets in the Viking and Ghost Pine area of Central Alberta.
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