FY2024 EPS Estimates for Cardinal Energy Cut by Analyst

Cardinal Energy Ltd. (TSE:CJ) – Investment analysts at Atb Cap Markets decreased their FY2024 earnings per share (EPS) estimates for shares of Cardinal Energy in a report issued on Monday, January 6th. Atb Cap Markets analyst A. Arif now expects that the company will earn $0.66 per share for the year, down from their prior forecast of $0.69. The consensus estimate for Cardinal Energy’s current full-year earnings is $0.63 per share. Atb Cap Markets also issued estimates for Cardinal Energy’s Q4 2024 earnings at $0.15 EPS.

Other analysts have also recently issued research reports about the company. BMO Capital Markets reduced their price objective on Cardinal Energy from C$7.50 to C$7.00 in a research report on Friday, October 4th. Royal Bank of Canada dropped their price target on shares of Cardinal Energy from C$8.00 to C$7.00 in a research note on Tuesday, September 17th. Finally, CIBC cut their price target on shares of Cardinal Energy from C$8.75 to C$8.00 in a report on Friday, November 8th.

Cardinal Energy Stock Performance

Shares of CJ opened at C$6.77 on Thursday. The company has a market capitalization of C$1.08 billion, a PE ratio of 9.27, a PEG ratio of -0.26 and a beta of 2.81. The company has a debt-to-equity ratio of 9.04, a quick ratio of 0.67 and a current ratio of 0.73. The company’s 50 day moving average price is C$6.44 and its 200 day moving average price is C$6.60. Cardinal Energy has a 52 week low of C$5.98 and a 52 week high of C$7.38.

Insiders Place Their Bets

In other news, Director M. Scott Ratushny acquired 10,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were bought at an average price of C$6.12 per share, with a total value of C$61,160.00. Also, Director John Festival bought 50,050 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was purchased at an average price of C$6.20 per share, with a total value of C$310,310.00. Insiders bought a total of 137,650 shares of company stock valued at $852,718 in the last quarter. Insiders own 23.38% of the company’s stock.

Cardinal Energy Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.64%. The ex-dividend date of this dividend was Friday, November 29th. Cardinal Energy’s payout ratio is 98.63%.

Cardinal Energy Company Profile

Cardinal Energy Ltd. engages in the acquisition, development, optimization, and production of petroleum and natural gas in the provinces of Alberta, British Columbia, and Saskatchewan. Cardinal Energy Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.