MEG Energy (MEG) to Release Quarterly Earnings on Monday

MEG Energy (TSE:MEG) will be issuing its quarterly earnings data after the market closes on Monday, May 6th. Analysts expect the company to announce earnings of C$0.47 per share for the quarter.

MEG Energy (TSE:MEG) last released its quarterly earnings data on Thursday, February 29th. The company reported C$0.37 earnings per share for the quarter, missing the consensus estimate of C$0.59 by C($0.22). The company had revenue of C$1.44 billion during the quarter, compared to analyst estimates of C$1.40 billion. MEG Energy had a net margin of 10.06% and a return on equity of 12.77%.

MEG Energy Trading Down 0.1 %

Shares of TSE:MEG opened at C$30.77 on Friday. The firm has a fifty day moving average of C$30.77 and a two-hundred day moving average of C$27.10. The company has a quick ratio of 1.17, a current ratio of 1.48 and a debt-to-equity ratio of 30.55. MEG Energy has a 12-month low of C$19.41 and a 12-month high of C$33.70. The firm has a market capitalization of C$8.37 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 0.17 and a beta of 3.16.

Wall Street Analysts Forecast Growth

MEG has been the topic of a number of recent research reports. National Bankshares boosted their target price on MEG Energy from C$32.00 to C$37.00 and gave the company a “sector perform” rating in a research note on Friday, April 19th. BMO Capital Markets boosted their price objective on shares of MEG Energy from C$35.00 to C$37.00 in a research note on Thursday, March 28th. Jefferies Financial Group raised their target price on MEG Energy from C$28.00 to C$35.00 and gave the company a “hold” rating in a report on Friday, April 12th. CIBC upped their target price on MEG Energy from C$30.00 to C$34.00 and gave the company a “neutral” rating in a research note on Monday, April 22nd. Finally, Desjardins raised their price objective on shares of MEG Energy from C$30.00 to C$31.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, MEG Energy currently has a consensus rating of “Hold” and an average price target of C$33.09.

Insider Buying and Selling

In other MEG Energy news, Senior Officer Erik Alexander Alson sold 34,528 shares of MEG Energy stock in a transaction on Friday, March 15th. The stock was sold at an average price of C$30.24, for a total value of C$1,044,126.72. In other news, Senior Officer David Michael Granger sold 32,144 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of C$30.47, for a total transaction of C$979,504.83. Also, Senior Officer Erik Alexander Alson sold 34,528 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of C$30.24, for a total transaction of C$1,044,126.72. Insiders have sold a total of 301,679 shares of company stock worth $8,825,336 in the last three months. Insiders own 0.63% of the company’s stock.

About MEG Energy

MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.