Spartan Delta Corp. (TSE:SDE) Receives C$8.84 Consensus Price Target from Analysts

Posted by Defense World Staff on Jul 16th, 2023

Shares of Spartan Delta Corp. (TSE:SDE – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is C$8.77.

A number of research firms have recently weighed in on SDE. Scotiabank dropped their target price on Spartan Delta from C$20.00 to C$8.00 in a report on Tuesday, June 20th. TD Securities lowered Spartan Delta from a “buy” rating to a “hold” rating and dropped their target price for the company from C$20.00 to C$6.50 in a report on Wednesday, March 29th. Stifel Nicolaus dropped their target price on Spartan Delta from C$18.00 to C$6.25 in a report on Tuesday, June 27th. CIBC dropped their target price on Spartan Delta from C$20.00 to C$18.00 in a report on Thursday, March 30th. Finally, ATB Capital dropped their target price on Spartan Delta from C$16.50 to C$6.00 in a report on Tuesday, June 27th.

Spartan Delta Stock Down 3.7 %

Shares of TSE:SDE opened at C$4.48 on Thursday. The business’s 50 day simple moving average is C$11.47 and its two-hundred day simple moving average is C$13.14. The firm has a market cap of C$767.87 million, a P/E ratio of 1.12 and a beta of 2.45. The company has a debt-to-equity ratio of 11.94, a quick ratio of 0.66 and a current ratio of 3.25. Spartan Delta has a 52-week low of C$4.44 and a 52-week high of C$16.66.

Spartan Delta (TSE:SDE – Get Free Report) last announced its quarterly earnings results on Friday, May 12th. The company reported C$0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.42 by C$0.07. Spartan Delta had a return on equity of 55.76% and a net margin of 54.05%. The business had revenue of C$316.21 million for the quarter. As a group, research analysts forecast that Spartan Delta will post 1.0342612 EPS for the current fiscal year.

Spartan Delta Cuts Dividend

The firm also recently declared a None dividend, which will be paid on Monday, July 17th. Investors of record on Friday, July 14th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, July 13th.

About Spartan Delta

(Get Free Report

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. Spartan Delta Corp.