Surge Energy Inc (TSE:SGY) – Research analysts at Cormark decreased their FY2016 earnings per share estimates for shares of Surge Energy in a research report issued on Thursday. Cormark analyst G. Ursu now expects that the firm will earn ($0.05) per share for the year, down from their previous estimate of ($0.03). Cormark also issued estimates for Surge Energy’s Q4 2016 earnings at $0.01 EPS, Q1 2017 earnings at $0.02 EPS, Q2 2017 earnings at $0.02 EPS, Q3 2017 earnings at $0.03 EPS and FY2017 earnings at $0.12 EPS.
Several other research analysts have also recently issued reports on SGY. CIBC increased their target price on shares of Surge Energy from C$2.50 to C$2.75 in a report on Wednesday, September 7th. Scotiabank reiterated a “sector perform” rating and set a C$3.00 target price on shares of Surge Energy in a report on Wednesday, September 7th. TD Securities increased their target price on shares of Surge Energy from C$3.25 to C$3.50 and gave the stock a “buy” rating in a report on Wednesday, September 7th. FirstEnergy Capital increased their target price on shares of Surge Energy from C$3.00 to C$3.25 and gave the stock an “outperform” rating in a report on Wednesday, September 7th. Finally, RBC Capital Markets increased their price target on shares of Surge Energy from C$2.75 to C$3.00 and gave the company a “sector perform” rating in a research report on Thursday, October 6th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of C$2.97.
Shares of Surge Energy (TSE:SGY) opened at 2.95 on Monday. The company’s 50-day moving average is $2.52 and its 200 day moving average is $2.40. The company’s market capitalization is $652.09 million. Surge Energy has a 12 month low of $1.40 and a 12 month high of $3.43.
In related news, Director Paul Colborne acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was purchased at an average cost of C$2.58 per share, with a total value of C$25,800.00.
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