Raymond James Increases Earnings Estimates for MEG Energy

MEG Energy Corp. (TSE:MEG) – Research analysts at Raymond James lifted their FY2025 earnings per share estimates for shares of MEG Energy in a report issued on Wednesday, November 6th. Raymond James analyst M. Barth now forecasts that the company will earn $2.50 per share for the year, up from their previous estimate of $2.47. The consensus estimate for MEG Energy’s current full-year earnings is $2.27 per share. Raymond James also issued estimates for MEG Energy’s FY2027 earnings at $2.31 EPS and FY2028 earnings at $2.33 EPS.

MEG Energy (TSE:MEG) last issued its quarterly earnings results on Tuesday, November 5th. The company reported C$0.62 earnings per share for the quarter, missing the consensus estimate of C$0.63 by C($0.01). MEG Energy had a return on equity of 12.99% and a net margin of 10.43%. The business had revenue of C$1.27 billion during the quarter, compared to analyst estimates of C$1.33 billion.

A number of other brokerages have also recently commented on MEG. Scotiabank raised MEG Energy from a “sector perform” rating to an “outperform” rating and set a C$35.00 price target for the company in a research report on Wednesday, September 25th. BMO Capital Markets cut their price objective on shares of MEG Energy from C$37.00 to C$34.00 in a research note on Friday, October 4th. National Bankshares decreased their target price on shares of MEG Energy from C$35.00 to C$31.00 in a research report on Friday, September 27th. Jefferies Financial Group cut their price target on MEG Energy from C$32.00 to C$26.00 and set a “hold” rating on the stock in a research report on Monday, September 16th. Finally, TD Securities upped their target price on MEG Energy from C$35.00 to C$36.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$32.55.

MEG Energy Stock Down 1.2 %

MEG stock opened at C$25.52 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 26.35. MEG Energy has a 52 week low of C$22.79 and a 52 week high of C$33.70. The stock has a market capitalization of C$6.88 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.17 and a beta of 2.89. The firm has a 50 day moving average of C$25.91 and a 200 day moving average of C$27.82.

Insider Activity

In other news, Director James D. Mcfarland purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average cost of C$26.94 per share, for a total transaction of C$134,700.00. In other MEG Energy news, Director James D. Mcfarland acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was bought at an average price of C$26.94 per share, with a total value of C$134,700.00. Also, Director Michael Mcallister bought 7,400 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of C$25.67 per share, for a total transaction of C$189,986.86. Company insiders own 0.33% of the company’s stock.

MEG Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.10 per share. The ex-dividend date is Monday, December 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.57%. MEG Energy’s payout ratio is currently 19.05%.

MEG Energy Company Profile

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.