Atb Cap Markets Weighs in on Cardinal Energy FY2024 Earnings

Cardinal Energy Ltd. (TSE:CJ) – Equities researchers at Atb Cap Markets increased their FY2024 earnings per share (EPS) estimates for shares of Cardinal Energy in a note issued to investors on Wednesday, January 15th. Atb Cap Markets analyst A. Arif now anticipates that the company will earn $0.68 per share for the year, up from their previous estimate of $0.66. The consensus estimate for Cardinal Energy’s current full-year earnings is $0.63 per share. Atb Cap Markets also issued estimates for Cardinal Energy’s Q4 2024 earnings at $0.16 EPS, Q4 2025 earnings at $0.12 EPS, FY2026 earnings at $0.43 EPS and FY2027 earnings at $0.26 EPS.

A number of other equities research analysts also recently weighed in on CJ. CIBC dropped their price target on shares of Cardinal Energy from C$8.75 to C$8.00 in a research report on Friday, November 8th. BMO Capital Markets boosted their price objective on shares of Cardinal Energy from C$7.00 to C$7.50 in a research report on Tuesday, January 14th.

Cardinal Energy Stock Down 0.9 %

Shares of CJ opened at C$6.57 on Monday. Cardinal Energy has a 52 week low of C$5.98 and a 52 week high of C$7.38. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.67 and a current ratio of 0.73. The firm has a market capitalization of C$1.05 billion, a price-to-earnings ratio of 9.00, a PEG ratio of -0.26 and a beta of 2.81. The business’s fifty day moving average price is C$6.50 and its two-hundred day moving average price is C$6.60.

Insiders Place Their Bets

In related news, Senior Officer Kenneth Cory Lee Younger sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of C$6.90, for a total value of C$82,800.00. Also, Director John Festival purchased 50,050 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was acquired at an average cost of C$6.20 per share, for a total transaction of C$310,310.00. In the last ninety days, insiders acquired 137,650 shares of company stock worth $852,718. Company insiders own 23.38% of the company’s stock.

Cardinal Energy Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 18th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, January 31st. This represents a $0.72 dividend on an annualized basis and a yield of 10.96%. Cardinal Energy’s payout ratio is currently 98.63%.

About Cardinal Energy

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.