Brokers Issue Forecasts for Gear Energy Ltd’s Q2 2018 Earnings (GXE)

Gear Energy Ltd (TSE:GXE) – Research analysts at Beacon Securities lowered their Q2 2018 earnings per share estimates for shares of Gear Energy in a research note issued to investors on Thursday. Beacon Securities analyst L. Dunkley now anticipates that the company will earn $0.00 per share for the quarter, down from their previous estimate of $0.01.

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GXE has been the subject of a number of other research reports. National Bank Financial upped their price objective on shares of Gear Energy from C$1.00 to C$1.25 and gave the company an “outperform” rating in a report on Tuesday, January 9th. GMP Securities dropped their price objective on shares of Gear Energy from C$1.25 to C$1.20 in a report on Friday, February 23rd.

Shares of Gear Energy (GXE) opened at C$0.70 on Monday. Gear Energy has a 1-year low of C$0.60 and a 1-year high of C$1.00. The stock has a market cap of $138.43, a PE ratio of 14.00 and a beta of 3.86.

Gear Energy (TSE:GXE) last announced its quarterly earnings data on Wednesday, February 21st. The company reported C$0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$0.01 by C$0.02. Gear Energy had a net margin of 32.15% and a return on equity of 18.30%. The firm had revenue of C$30.05 million during the quarter, compared to analyst estimates of C$28.30 million.

In related news, Director John O’connell sold 34,570 shares of the company’s stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of C$0.73, for a total value of C$25,236.10.

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About Gear Energy

Gear Energy Ltd. is an exploration and production company with heavy and light oil production in Central Alberta and West Central Saskatchewan. The Company is engaged in the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. The Company’s properties include Paradise Hill, Wildmere Cummings, Wilson Creek and Hoosier.

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