Cardinal Energy Ltd Expected to Earn FY2019 Earnings of $0.29 Per Share (CJ)
Cardinal Energy Ltd (TSE:CJ) – Equities research analysts at Cormark issued their FY2019 earnings per share estimates for shares of Cardinal Energy in a report issued on Thursday. Cormark analyst G. Ursu expects that the company will post earnings of $0.29 per share for the year.
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Several other research analysts have also commented on the company. BMO Capital Markets initiated coverage on Cardinal Energy in a research report on Wednesday, April 12th. They set an “outperform” rating for the company. Scotiabank lowered their price target on Cardinal Energy from C$11.00 to C$10.00 and set an “outperform” rating for the company in a research report on Friday, May 5th. Raymond James Financial, Inc. restated a “market perform” rating and set a C$6.75 price target on shares of Cardinal Energy in a research report on Tuesday, June 13th. TD Securities lowered their price target on Cardinal Energy from C$9.00 to C$8.00 and set a “buy” rating for the company in a research report on Friday, May 5th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a C$11.00 price target on shares of Cardinal Energy in a research report on Tuesday, April 18th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Cardinal Energy has an average rating of “Buy” and an average target price of C$8.21.
Shares of Cardinal Energy (CJ) opened at 4.18 on Friday. The company’s market capitalization is $254.56 million. Cardinal Energy has a 12 month low of $4.10 and a 12 month high of $10.81. The firm’s 50-day moving average price is $4.68 and its 200-day moving average price is $6.64.
The business also recently announced a monthly dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be issued a $0.035 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.42 dividend on an annualized basis and a yield of 10.05%.
In related news, Director M. Scott Ratushny bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was purchased at an average cost of C$4.20 per share, for a total transaction of C$42,000.00.
About Cardinal Energy
Cardinal Energy Ltd. is a Canada-based oil-focused company. The Company is engaged in the acquisition, exploration and production of petroleum and natural gas in the provinces of Alberta and Saskatchewan. Its Wainwright properties are located approximately 200 kilometers southeast of Edmonton, Alberta.
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