Raymond James Lowers Gibson Energy (TSE:GEI) Price Target to C$23.00

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Gibson Energy (TSE:GEI) had its target price lowered by stock analysts at Raymond James from C$26.00 to C$23.00 in a research report issued on Wednesday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James’ price objective indicates a potential upside of 32.11% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada raised shares of Gibson Energy from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$27.00 to C$31.00 in a report on Wednesday, December 4th. Scotiabank increased their price objective on shares of Gibson Energy from C$27.50 to C$29.00 in a report on Friday, February 7th. Canaccord Genuity decreased their price objective on shares of Gibson Energy from C$30.00 to C$22.00 in a report on Friday, March 20th. BMO Capital Markets increased their price objective on shares of Gibson Energy from C$28.00 to C$29.00 in a report on Wednesday, December 4th. Finally, CSFB increased their price objective on shares of Gibson Energy from C$26.00 to C$28.00 in a report on Monday, January 20th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of C$26.65.

GEI opened at C$17.41 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.16 and a debt-to-equity ratio of 180.86. The company has a market cap of $2.07 billion and a price-to-earnings ratio of 14.11. Gibson Energy has a 52-week low of C$10.96 and a 52-week high of C$28.34. The firm’s fifty day simple moving average is C$22.75 and its two-hundred day simple moving average is C$24.46.

Gibson Energy (TSE:GEI) last posted its quarterly earnings data on Monday, February 24th. The company reported C$0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.28 by C($0.03). The business had revenue of C$1.67 billion for the quarter. On average, research analysts forecast that Gibson Energy will post 1.0751813 EPS for the current year.

About Gibson Energy

Gibson Energy Inc engages in the gathering, storage, optimization, processing, and marketing of crude oil and refined products in North America. It operates through Infrastructure and Wholesale segments. The Infrastructure segment operates a network of infrastructure assets that include oil terminals, rail loading and unloading facilities, injection stations, gathering pipelines, and a crude oil processing facility, as well as procession, recovery, and disposal terminals.

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