FY2024 EPS Forecast for Cardinal Energy Lowered by Analyst

Cardinal Energy Ltd. (TSE:CJ) – Atb Cap Markets cut their FY2024 EPS estimates for Cardinal Energy in a research note issued to investors on Monday, January 6th. Atb Cap Markets analyst A. Arif now expects that the company will post earnings of $0.66 per share for the year, down from their previous forecast of $0.69. 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 $0.15 EPS.

Several other analysts have also recently commented on CJ. Royal Bank of Canada lowered their target price on Cardinal Energy from C$8.00 to C$7.00 in a research report on Tuesday, September 17th. BMO Capital Markets cut their price objective on shares of Cardinal Energy from C$7.50 to C$7.00 in a research note on Friday, October 4th. Finally, CIBC reduced their price objective on shares of Cardinal Energy from C$8.75 to C$8.00 in a report on Friday, November 8th.

Cardinal Energy Stock Up 0.4 %

Shares of Cardinal Energy stock opened at C$6.80 on Thursday. The stock has a market capitalization of C$1.08 billion, a price-to-earnings ratio of 9.32, a PEG ratio of -0.26 and a beta of 2.81. Cardinal Energy has a twelve month low of C$5.98 and a twelve month high of C$7.38. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 9.04. The business’s 50 day simple moving average is C$6.44 and its 200-day simple moving average is C$6.60.

Cardinal Energy Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 10.59%. The ex-dividend date of this dividend was Friday, November 29th. Cardinal Energy’s payout ratio is 98.63%.

Insider Buying and Selling

In other news, Director M. Scott Ratushny acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was acquired at an average cost of C$6.12 per share, for a total transaction of C$61,160.00. Also, Director John Festival bought 50,050 shares of the stock in a transaction on Monday, November 11th. The stock was purchased at an average price 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 valued at $852,718. Corporate insiders own 23.38% of the company’s stock.

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.