Spartan Delta Corp. (TSE:SDE) Given Average Rating of “Buy” by Brokerages

Spartan Delta Corp. (TSE:SDE) has been assigned an average rating of “Buy” from the ten research firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is C$5.61.

Several equities analysts have recently issued reports on SDE shares. National Bankshares boosted their target price on Spartan Delta from C$5.50 to C$6.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Cormark raised shares of Spartan Delta from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 24th. Stifel Nicolaus raised their target price on shares of Spartan Delta from C$5.75 to C$6.00 in a research report on Thursday, May 9th. BMO Capital Markets boosted their price target on shares of Spartan Delta from C$5.50 to C$6.00 in a research report on Thursday, May 9th. Finally, CIBC raised their price objective on shares of Spartan Delta from C$6.00 to C$7.00 in a report on Monday, July 15th.

Spartan Delta Price Performance

Shares of Spartan Delta stock opened at C$3.90 on Monday. The company’s fifty day simple moving average is C$4.09 and its two-hundred day simple moving average is C$3.69. Spartan Delta has a 12-month low of C$2.63 and a 12-month high of C$4.59. The firm has a market cap of C$675.48 million, a PE ratio of 1.15 and a beta of 1.74. The company has a quick ratio of 0.66, a current ratio of 0.84 and a debt-to-equity ratio of 18.64.

Spartan Delta (TSE:SDE) last posted its earnings results on Tuesday, May 7th. The company reported C$0.06 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.01). Spartan Delta had a return on equity of 58.05% and a net margin of 154.30%. The firm had revenue of C$84.15 million for the quarter. As a group, equities analysts expect that Spartan Delta will post 0.3500432 EPS for the current year.

About Spartan Delta

Spartan Delta Corp. engages in the exploration, development, and production of oil and natural gas reserves in the Western Canada. Its assets are located in Montney and Deep Basin. The company was formerly known as Return Energy Inc and changed its name to Spartan Delta Corp. in May 2020. The company was incorporated in 2006 and is headquartered in Calgary, Canada.