Atb Cap Markets Issues Negative Outlook for TSE:PEY Earnings

Peyto Exploration & Development Corp. (TSE:PEY) – Stock analysts at Atb Cap Markets lowered their FY2024 earnings per share (EPS) estimates for Peyto Exploration & Development in a report released on Wednesday, November 13th. Atb Cap Markets analyst A. Arif now expects that the company will earn $1.54 per share for the year, down from their previous estimate of $1.55.

A number of other brokerages have also commented on PEY. National Bankshares boosted their price target on Peyto Exploration & Development from C$18.00 to C$18.50 in a report on Friday, September 27th. TD Securities cut their price objective on Peyto Exploration & Development from C$19.00 to C$18.00 in a report on Tuesday, October 1st. Finally, Atlantic Securities boosted their target price on shares of Peyto Exploration & Development from C$17.50 to C$18.50 and gave the stock an “outperform” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Peyto Exploration & Development has a consensus rating of “Buy” and a consensus target price of C$17.60.

Peyto Exploration & Development Stock Performance

Shares of PEY opened at C$15.62 on Thursday. Peyto Exploration & Development has a twelve month low of C$11.09 and a twelve month high of C$16.32. The company has a debt-to-equity ratio of 50.02, a quick ratio of 0.32 and a current ratio of 1.15. The firm’s 50 day moving average price is C$15.15 and its two-hundred day moving average price is C$14.95. The firm has a market cap of C$3.05 billion, a P/E ratio of 10.08, a PEG ratio of -0.46 and a beta of 1.75.

Peyto Exploration & Development (TSE:PEY) last posted its earnings results on Tuesday, August 13th. The company reported C$0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.27 by C($0.01). The business had revenue of C$256.55 million during the quarter, compared to analyst estimates of C$257.10 million. Peyto Exploration & Development had a net margin of 32.88% and a return on equity of 11.86%.

Insider Buying and Selling at Peyto Exploration & Development

In other Peyto Exploration & Development news, Senior Officer Todd Burdick sold 57,810 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of C$14.41, for a total transaction of C$832,845.55. Also, Director Stephen Jonathan Chetner purchased 4,000 shares of Peyto Exploration & Development stock in a transaction dated Monday, October 28th. The shares were purchased at an average price of C$15.31 per share, for a total transaction of C$61,244.00. In the last quarter, insiders acquired 35,675 shares of company stock valued at $522,419 and sold 188,740 shares valued at $2,744,924. Insiders own 2.36% of the company’s stock.

Peyto Exploration & Development Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 15th. Shareholders of record on Thursday, October 31st were paid a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 8.45%. The ex-dividend date was Thursday, October 31st. Peyto Exploration & Development’s dividend payout ratio (DPR) is 85.16%.

About Peyto Exploration & Development

Peyto Exploration & Development Corp., an energy company, engages in the exploration, development, and production of natural gas, oil, and natural gas liquids in Deep Basin of Alberta. The company was formerly known as Peyto Energy Trust and changed its name to Peyto Exploration & Development Corp.