Surge Energy Inc. (TSE:SGY) Given Average Recommendation of “Buy” by Brokerages

Surge Energy Inc. (TSE:SGY) has been given an average recommendation of “Buy” by the seven analysts that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$11.89.

Several research analysts have recently commented on SGY shares. 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 boosted their target price on shares of Surge Energy from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st.

Surge Energy Trading Down 0.5 %

TSE SGY opened at C$6.15 on Thursday. Surge Energy has a one year low of C$5.51 and a one year high of C$9.77. 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 company has a market capitalization of C$616.97 million, a price-to-earnings ratio of 3.80, a price-to-earnings-growth ratio of 0.59 and a beta of 2.57. The company’s 50-day simple moving average is C$6.54 and its two-hundred day simple moving average is C$6.99.

Surge Energy (TSE:SGY) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.34 by C($0.02). The business had revenue of C$173.17 million for the quarter, compared to analysts’ expectations of C$174.40 million. Surge Energy had a negative net margin of 14.28% and a negative return on equity of 10.03%. Equities analysts forecast that Surge Energy will post 0.8496454 EPS for the current fiscal year.

Surge Energy Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.043 dividend. This represents a $0.52 annualized dividend and a yield of 8.39%. The ex-dividend date is Friday, September 27th. Surge Energy’s dividend payout ratio is presently 32.10%.

About Surge Energy

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.