Surge Energy (TSE:SGY) Issues Quarterly Earnings Results

Surge Energy (TSE:SGY) announced its earnings results on Wednesday. The company reported C$0.55 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$111.40 million during the quarter. Surge Energy had a net margin of 7.25% and a return on equity of 6.04%.

Surge Energy Stock Up 1.4%

SGY stock opened at C$8.60 on Friday. The stock’s fifty day simple moving average is C$7.33 and its two-hundred day simple moving average is C$7.11. The company has a current ratio of 0.88, a quick ratio of 0.40 and a debt-to-equity ratio of 32.59. The stock has a market cap of C$850.95 million, a P/E ratio of 19.11, a P/E/G ratio of 0.59 and a beta of 0.14. Surge Energy has a 1-year low of C$4.37 and a 1-year high of C$8.70.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SGY. ATB Cormark Capital Markets increased their price objective on shares of Surge Energy from C$8.25 to C$9.75 in a research note on Friday, November 21st. Raymond James Financial downgraded Surge Energy from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Surge Energy currently has a consensus rating of “Buy” and an average price target of C$9.08.

About Surge Energy

Surge Energy Inc is engaged in the exploration, development, and production of oil and gas from properties in western Canada. The company generates its revenue from the sale of petroleum and natural gas products such as Oil, Natural gas liquids and Natural gas, of which a majority of the revenue is derived from the sale of oil.