Gear Energy Ltd. (TSE:GXE) Forecasted to Post Q2 2023 Earnings of $0.03 Per Share

Posted by on May 6th, 2023

Gear Energy Ltd. (TSE:GXE – Get Rating) – Research analysts at Atb Cap Markets cut their Q2 2023 earnings estimates for Gear Energy in a research report issued to clients and investors on Wednesday, May 3rd. Atb Cap Markets analyst A. Arif now anticipates that the company will earn $0.03 per share for the quarter, down from their previous estimate of $0.05. The consensus estimate for Gear Energy’s current full-year earnings is $0.14 per share. Atb Cap Markets also issued estimates for Gear Energy’s Q3 2023 earnings at $0.03 EPS, Q4 2023 earnings at $0.03 EPS, FY2023 earnings at $0.09 EPS, Q1 2024 earnings at $0.02 EPS, Q2 2024 earnings at $0.02 EPS, Q3 2024 earnings at $0.02 EPS, Q4 2024 earnings at $0.01 EPS, FY2024 earnings at $0.06 EPS and FY2025 earnings at $0.01 EPS.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus lowered their price objective on shares of Gear Energy from C$1.10 to C$1.00 in a research note on Thursday. ATB Capital dropped their price objective on Gear Energy from C$1.80 to C$1.60 in a report on Thursday, January 19th. Finally, Stifel Firstegy reaffirmed a “hold” rating on shares of Gear Energy in a research note on Thursday, January 12th.

Gear Energy Trading Up 3.1 %

Shares of GXE stock opened at C$1.01 on Friday. Gear Energy has a 12 month low of C$0.90 and a 12 month high of C$1.73. The company has a quick ratio of 0.56, a current ratio of 0.96 and a debt-to-equity ratio of 2.83. The business’s 50 day moving average is C$1.05 and its two-hundred day moving average is C$1.12. The company has a market cap of C$263.31 million, a PE ratio of 3.74 and a beta of 4.08.

Gear Energy (TSE:GXE – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The company reported C$0.10 EPS for the quarter, beating analysts’ consensus estimates of C$0.02 by C$0.08. The company had revenue of C$39.28 million during the quarter, compared to analyst estimates of C$41.00 million. Gear Energy had a net margin of 46.18% and a return on equity of 33.28%.

Gear Energy Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Monday, May 15th will be given a dividend of $0.01 per share. This represents a $0.12 dividend on an annualized basis and a yield of 11.88%. The ex-dividend date of this dividend is Friday, May 12th. Gear Energy’s dividend payout ratio (DPR) is currently 44.44%.

About Gear Energy

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Gear Energy Ltd., an exploration and production company, acquires, develops, and holds interests in petroleum and natural gas properties and assets in Canada. Its properties include the Celtic/Paradise Hill property located approximately 40 kilometers northeast of Lloydminster Alberta; the Wildmere field situated approximately 200 kilometers southeast of Edmonton, Alberta; the Wilson Creek property located in Central Alberta; and the Tableland property situated southwest of Estevan in Southeast Saskatchewan.

Further Reading

Earnings History and Estimates for Gear Energy (TSE:GXE)

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