MEG Energy (MEG) to Release Quarterly Earnings on Thursday

MEG Energy (TSE:MEG) is set to issue its quarterly earnings data after the market closes on Thursday, July 25th. Analysts expect the company to announce earnings of C$0.84 per share for the quarter.

MEG Energy (TSE:MEG) last released its quarterly earnings results on Monday, May 6th. The company reported C$0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.45 by C($0.09). The company had revenue of C$1.36 billion for the quarter, compared to analyst estimates of C$1.25 billion. MEG Energy had a net margin of 10.58% and a return on equity of 13.20%.

MEG Energy Stock Performance

Shares of MEG Energy stock opened at C$27.50 on Wednesday. The company has a market cap of C$7.50 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 0.17 and a beta of 3.12. The company has a quick ratio of 1.17, a current ratio of 1.41 and a debt-to-equity ratio of 28.18. MEG Energy has a 52 week low of C$22.59 and a 52 week high of C$33.70. The business has a 50 day moving average price of C$28.86 and a 200-day moving average price of C$28.60.

Wall Street Analysts Forecast Growth

MEG has been the subject of a number of analyst reports. CIBC increased their price target on MEG Energy from C$30.00 to C$34.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Jefferies Financial Group lowered their price target on MEG Energy from C$35.00 to C$32.00 and set a “hold” rating for the company in a research report on Monday, July 15th. TD Securities raised MEG Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 7th. Scotiabank increased their price target on MEG Energy from C$34.00 to C$35.00 in a research report on Friday, July 12th. Finally, Raymond James set a C$28.00 price objective on MEG Energy and gave the company a “market perform” rating in a research note on Wednesday, May 29th. Seven research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of C$33.08.

MEG Energy Company Profile

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.