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

Shares of Surge Energy Inc. (TSE:SGY) have received an average rating of “Buy” from the seven research firms that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is C$11.89.

A number of equities analysts have weighed in on the company. BMO Capital Markets lifted their price objective on Surge Energy from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Acumen Capital lifted their price target on Surge Energy from C$12.25 to C$12.75 and gave the company a “strong-buy” rating in a research report on Thursday, August 1st.

Surge Energy Stock Performance

SGY opened at C$6.15 on Thursday. The company has a current ratio of 0.50, a quick ratio of 0.40 and a debt-to-equity ratio of 29.47. Surge Energy has a 12-month low of C$5.51 and a 12-month high of C$9.77. The firm has a 50 day moving average of C$6.54 and a two-hundred day moving average of C$6.99. The firm has a market capitalization of C$616.97 million, a PE ratio of 3.80, a P/E/G ratio of 0.59 and a beta of 2.57.

Surge Energy (TSE:SGY) last issued its earnings results 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 return on equity of 10.03% and a negative net margin of 14.28%. On average, analysts anticipate that Surge Energy will post 0.8496454 EPS for the current year.

Surge Energy Dividend Announcement

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

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.