FY2024 EPS Estimates for TSE:PEY Lowered by Atb Cap Markets

Peyto Exploration & Development Corp. (TSE:PEY) – Investment analysts at Atb Cap Markets dropped their FY2024 EPS estimates for shares of Peyto Exploration & Development in a research note issued to investors on Wednesday, November 13th. Atb Cap Markets analyst A. Arif now expects that the company will earn $1.54 per share for the year, down from their previous estimate of $1.55.

Peyto Exploration & Development (TSE:PEY) last issued its earnings results on Tuesday, August 13th. The company reported C$0.26 earnings per share for the quarter, missing the consensus estimate of C$0.27 by C($0.01). The firm had revenue of C$256.55 million during the quarter, compared to the consensus estimate of C$257.10 million. Peyto Exploration & Development had a return on equity of 11.86% and a net margin of 32.88%.

PEY has been the subject of several other reports. National Bankshares upped their price target on Peyto Exploration & Development from C$18.00 to C$18.50 in a research note on Friday, September 27th. TD Securities cut their target price on shares of Peyto Exploration & Development from C$19.00 to C$18.00 in a research note on Tuesday, October 1st. Finally, Atlantic Securities boosted their price target on shares of Peyto Exploration & Development from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$17.60.

Peyto Exploration & Development Price Performance

Shares of Peyto Exploration & Development stock opened at C$15.51 on Thursday. The company has a market capitalization of C$3.03 billion, a price-to-earnings ratio of 10.01, a PEG ratio of -0.46 and a beta of 1.75. The company has a quick ratio of 0.32, a current ratio of 1.15 and a debt-to-equity ratio of 50.02. The stock’s 50-day simple moving average is C$15.11 and its 200-day simple moving average is C$14.95. Peyto Exploration & Development has a 52 week low of C$11.09 and a 52 week high of C$16.32.

Insider Activity

In other news, Director Jean-Paul Henri Lachance sold 16,600 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of C$15.10, for a total value of C$250,660.00. Also, Director Stephen Jonathan Chetner purchased 4,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were acquired at an average cost of C$15.31 per share, with a total value of C$61,244.00. In the last 90 days, insiders have purchased 35,675 shares of company stock valued at $522,419 and have sold 188,740 shares valued at $2,744,924. Corporate insiders own 2.36% of the company’s stock.

Peyto Exploration & Development Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be issued a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.51%. The ex-dividend date of this dividend is Thursday, October 31st. Peyto Exploration & Development’s dividend payout ratio (DPR) is 85.16%.

About Peyto Exploration & Development

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids in Deep Basin of Alberta. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.