National Bankshares Raises Surge Energy (TSE:SGY) Price Target to C$11.25

Surge Energy (TSE:SGY) had its target price raised by equities research analysts at National Bankshares from C$11.00 to C$11.25 in a research report issued to clients and investors on Friday, BayStreet.CA reports. National Bankshares’ price objective suggests a potential upside of 88.13% from the stock’s current price.

A number of other analysts also recently commented on the company. Cormark upgraded Surge Energy to a “moderate buy” rating in a research report on Monday, September 23rd. BMO Capital Markets boosted their price objective on shares of Surge Energy from C$10.00 to C$11.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Acumen Capital increased their price objective on shares of Surge Energy from C$12.25 to C$12.75 and gave the company a “strong-buy” rating in a research note on Thursday, August 1st. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$11.93.

Surge Energy Stock Up 1.2 %

Shares of TSE SGY opened at C$5.98 on Friday. The stock has a market capitalization of C$599.91 million, a price-to-earnings ratio of 3.69, a price-to-earnings-growth ratio of 0.59 and a beta of 2.57. Surge Energy has a 52 week low of C$5.51 and a 52 week high of C$9.77. The firm has a 50-day moving average price of C$6.45 and a 200 day moving average price of C$6.97. The company has a quick ratio of 0.40, a current ratio of 0.50 and a debt-to-equity ratio of 29.47.

Surge Energy (TSE:SGY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported C$0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.34 by C($0.02). The company had revenue of C$173.17 million for the quarter, compared to analyst estimates of C$174.40 million. Surge Energy had a negative net margin of 14.28% and a negative return on equity of 10.03%. Equities research analysts anticipate that Surge Energy will post 0.838256 EPS for the current fiscal year.

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.