Canaccord Genuity Group Issues Pessimistic Forecast for Birchcliff Energy (TSE:BIR) Stock Price

Birchcliff Energy (TSE:BIR) had its target price cut by investment analysts at Canaccord Genuity Group from C$6.00 to C$5.75 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Canaccord Genuity Group’s price target suggests a potential upside of 16.16% from the company’s current price.

Several other analysts also recently weighed in on the stock. Scotiabank cut their price objective on shares of Birchcliff Energy from C$7.50 to C$7.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 16th. Cormark upgraded shares of Birchcliff Energy to a “strong-buy” rating in a research report on Monday, September 23rd. National Bankshares dropped their price target on shares of Birchcliff Energy from C$6.50 to C$6.00 in a research report on Friday, September 27th. Finally, TD Securities dropped their target price on shares of Birchcliff Energy from C$5.50 to C$5.00 in a report on Tuesday, October 1st. Eight equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Birchcliff Energy currently has an average rating of “Hold” and a consensus price target of C$6.45.

Birchcliff Energy Stock Down 3.5 %

BIR traded down C$0.18 during trading hours on Friday, reaching C$4.95. 1,953,021 shares of the stock traded hands, compared to its average volume of 1,272,353. The firm’s fifty day simple moving average is C$5.49 and its two-hundred day simple moving average is C$5.80. The company has a market cap of C$1.33 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 0.35 and a beta of 1.93. Birchcliff Energy has a fifty-two week low of C$4.61 and a fifty-two week high of C$7.01. The company has a debt-to-equity ratio of 22.26, a current ratio of 1.52 and a quick ratio of 0.97.

Birchcliff Energy (TSE:BIR) last announced its quarterly earnings data on Wednesday, August 14th. The oil and natural gas company reported C$0.17 earnings per share for the quarter, topping the consensus estimate of C($0.01) by C$0.18. The company had revenue of C$146.98 million during the quarter. Birchcliff Energy had a net margin of 6.24% and a return on equity of 1.81%. As a group, analysts forecast that Birchcliff Energy will post 0.1118631 earnings per share for the current fiscal year.

About Birchcliff Energy

Birchcliff Energy Ltd., an intermediate oil and natural gas company, explores for, develops, and produces natural gas, light oil, condensate, and other natural gas liquids in Western Canada. The company holds interests in the areas of Montney/Doig Resource Play, including the Pouce Coupe and Gordondale properties in Alberta.