Atb Cap Markets Weighs in on Cardinal Energy FY2024 Earnings

Cardinal Energy Ltd. (TSE:CJ) – Investment analysts at Atb Cap Markets decreased their FY2024 earnings estimates for shares of Cardinal Energy in a report issued on Monday, January 6th. Atb Cap Markets analyst A. Arif now forecasts that the company will earn $0.66 per share for the year, down from their prior estimate 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 equities analysts have also issued research reports about the company. CIBC cut their target price on Cardinal Energy from C$8.75 to C$8.00 in a research note on Friday, November 8th. Royal Bank of Canada reduced their target price on Cardinal Energy from C$8.00 to C$7.00 in a report on Tuesday, September 17th. Finally, BMO Capital Markets dropped their price target on Cardinal Energy from C$7.50 to C$7.00 in a research report on Friday, October 4th.

Cardinal Energy Trading Down 0.7 %

CJ opened at C$6.77 on Thursday. The firm has a 50 day simple moving average of C$6.44 and a 200 day simple moving average of C$6.60. Cardinal Energy has a fifty-two week low of C$5.98 and a fifty-two week high of C$7.38. The company has a market cap of C$1.08 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of -0.26 and a beta of 2.81. The company has a debt-to-equity ratio of 9.04, a current ratio of 0.73 and a quick ratio of 0.67.

Insider Activity

In related news, Director John Festival purchased 75,000 shares of the stock in a transaction on Monday, December 23rd. The shares were purchased at an average price of C$6.20 per share, with a total value of C$465,000.00. Also, Director M. Scott Ratushny bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was purchased at an average cost of C$6.12 per share, with a total value of C$61,160.00. Insiders have acquired 137,650 shares of company stock worth $852,718 over the last ninety days. Insiders own 23.38% of the company’s stock.

Cardinal Energy Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 10.64%. The ex-dividend date was Friday, November 29th. Cardinal Energy’s dividend payout ratio (DPR) is currently 98.63%.

About Cardinal Energy

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.