FY2023 EPS Estimates for Spartan Delta Corp. Increased by Analyst (TSE:SDE)

Spartan Delta Corp. (TSE:SDE – Free Report) – Research analysts at Stifel Firstegy upped their FY2023 earnings estimates for Spartan Delta in a note issued to investors on Thursday, July 13th. Stifel Firstegy analyst C. Kwong now forecasts that the company will post earnings of $0.80 per share for the year, up from their prior estimate of $0.79. The consensus estimate for Spartan Delta’s current full-year earnings is $1.03 per share. Stifel Firstegy also issued estimates for Spartan Delta’s FY2024 earnings at $0.18 EPS.

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Spartan Delta (TSE:SDE – Get Free Report) last announced its quarterly earnings results on Friday, May 12th. The company reported C$0.49 EPS for the quarter, beating analysts’ consensus estimates of C$0.42 by C$0.07. The firm had revenue of C$316.21 million during the quarter. Spartan Delta had a net margin of 54.05% and a return on equity of 55.76%.

A number of other research firms also recently issued reports on SDE. ATB Capital dropped their target price on shares of Spartan Delta from C$16.50 to C$6.00 in a research report on Tuesday, June 27th. Raymond James lowered their price target on shares of Spartan Delta from C$19.00 to C$6.50 and set an “outperform” rating on the stock in a report on Thursday, June 22nd. CIBC reduced their price target on shares of Spartan Delta from C$20.00 to C$18.00 in a research report on Thursday, March 30th. TD Securities cut shares of Spartan Delta from a “buy” rating to a “hold” rating and cut their target price for the stock from C$20.00 to C$6.50 in a report on Wednesday, March 29th. Finally, Scotiabank cut their target price on shares of Spartan Delta from C$20.00 to C$8.00 in a report on Tuesday, June 20th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$8.77.

Spartan Delta Trading Down 3.7 %

Shares of Spartan Delta stock opened at C$4.48 on Monday. Spartan Delta has a 1 year low of C$4.44 and a 1 year high of C$16.66. The company has a current ratio of 3.25, a quick ratio of 0.66 and a debt-to-equity ratio of 11.94. The firm has a market capitalization of C$767.87 million, a PE ratio of 1.12 and a beta of 2.45. The firm’s 50 day moving average is C$11.47 and its 200 day moving average is C$13.13.

Spartan Delta Cuts Dividend

The business also recently disclosed 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 is Thursday, July 13th.

About Spartan Delta

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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.

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