Atb Cap Markets Weighs in on Peyto Exploration & Development Corp.’s Q3 2024 Earnings (TSE:PEY)

Peyto Exploration & Development Corp. (TSE:PEY) – Research analysts at Atb Cap Markets lowered their Q3 2024 EPS estimates for Peyto Exploration & Development in a report released on Sunday, October 6th. Atb Cap Markets analyst A. Arif now expects that the company will earn $0.27 per share for the quarter, down from their prior forecast of $0.41. Atb Cap Markets also issued estimates for Peyto Exploration & Development’s Q4 2024 earnings at $0.51 EPS and FY2024 earnings at $1.55 EPS.

PEY has been the topic of several other research reports. National Bankshares increased their target price on shares of Peyto Exploration & Development from C$18.00 to C$18.50 in a research note on Friday, September 27th. Scotiabank raised shares of Peyto Exploration & Development to a “strong-buy” rating in a research note on Friday, June 14th. TD Securities reduced their target price on shares of Peyto Exploration & Development from C$19.00 to C$18.00 in a research note on Tuesday, October 1st. CIBC reduced their target price on shares of Peyto Exploration & Development from C$17.50 to C$17.00 in a research note on Monday, July 15th. Finally, Atlantic Securities increased their target price on shares of Peyto Exploration & Development from C$17.50 to C$18.50 and gave the company an “outperform” rating in a research note on Monday. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Peyto Exploration & Development currently has a consensus rating of “Buy” and a consensus target price of C$17.60.

Peyto Exploration & Development Trading Up 0.6 %

Shares of PEY opened at C$15.80 on Wednesday. Peyto Exploration & Development has a twelve month low of C$11.09 and a twelve month high of C$16.32. The company has a market cap of C$3.09 billion, a P/E ratio of 10.19, a P/E/G ratio of -0.46 and a beta of 1.75. The company has a current ratio of 1.15, a quick ratio of 0.32 and a debt-to-equity ratio of 50.02. The company’s fifty day simple moving average is C$14.68 and its 200-day simple moving average is C$14.90.

Peyto Exploration & Development (TSE:PEY) last released its quarterly earnings results on Tuesday, August 13th. The company reported C$0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.27 by C($0.01). The business had revenue of C$256.55 million for the quarter, compared to analysts’ expectations of C$257.10 million. Peyto Exploration & Development had a net margin of 32.88% and a return on equity of 11.86%.

Insiders Place Their Bets

In other news, Director Jean-Paul Henri Lachance sold 23,500 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of C$14.00, for a total value of C$329,000.00. In related news, Director Jean-Paul Henri Lachance sold 23,500 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of C$14.00, for a total transaction of C$329,000.00. Also, Director Stephen Jonathan Chetner sold 2,700 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of C$14.29, for a total value of C$38,583.00. Insiders have sold a total of 242,940 shares of company stock worth $3,535,266 in the last three months. Corporate insiders own 2.36% of the company’s stock.

Peyto Exploration & Development Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 8.35%. The ex-dividend date is Friday, September 27th. Peyto Exploration & Development’s dividend payout ratio is presently 85.16%.

About Peyto Exploration & Development

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids in Deep Basin of Alberta. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.