Surge Energy (TSE:SGY) PT Lowered to C$10.50

Surge Energy (TSE:SGY) had its price objective decreased by stock analysts at Canaccord Genuity Group from C$11.00 to C$10.50 in a report released on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s price objective suggests a potential upside of 72.70% from the company’s previous close.

Several other equities analysts also recently issued reports on SGY. Raymond James upgraded Surge Energy to a “moderate buy” rating in a research report on Thursday, October 17th. Acumen Capital boosted their price target on Surge Energy from C$12.25 to C$12.75 and gave the stock a “strong-buy” rating in a research report on Thursday, August 1st. BMO Capital Markets raised their price target on Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Cormark upgraded shares of Surge Energy to a “moderate buy” rating in a research note on Monday, September 23rd. Finally, National Bankshares increased their target price on shares of Surge Energy from C$11.00 to C$11.25 in a research report on Friday, September 27th. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Surge Energy presently has an average rating of “Buy” and a consensus target price of C$11.43.

Surge Energy Stock Performance

SGY stock opened at C$6.08 on Tuesday. Surge Energy has a 1 year low of C$5.51 and a 1 year high of C$9.77. The stock has a market capitalization of C$609.95 million, a price-to-earnings ratio of 3.75, a PEG ratio of 0.59 and a beta of 2.54. The company has a debt-to-equity ratio of 29.47, a quick ratio of 0.40 and a current ratio of 0.50. The stock’s fifty day moving average is C$6.30 and its two-hundred day moving average is C$6.83.

Surge Energy (TSE:SGY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$0.32 earnings per share for the quarter, missing the consensus estimate of C$0.34 by C($0.02). Surge Energy had a negative net margin of 14.28% and a negative return on equity of 10.03%. The firm had revenue of C$173.17 million during the quarter, compared to the consensus estimate of C$174.40 million.

Surge Energy Company Profile

Surge Energy Inc explores, develops, and produces oil and gas in western Canada. Its principal properties are located in the areas of Sparky, Southeast Saskatchewan, Carbonates, Valhalla, and Shaunavon in Alberta and Saskatchewan. The company was formerly known as Zapata Energy Corporation and changed its name to Surge Energy Inc in June 2010.