Scotiabank Issues Positive Forecast for Spartan Delta (TSE:SDE) Stock Price

Spartan Delta (TSE:SDE) had its price objective upped by Scotiabank from C$6.00 to C$7.50 in a research report sent to investors on Thursday,BayStreet.CA reports.

Other analysts also recently issued reports about the stock. BMO Capital Markets lowered their price target on shares of Spartan Delta from C$6.00 to C$5.00 in a research note on Friday, December 13th. National Bankshares raised their price target on Spartan Delta from C$5.75 to C$6.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Spartan Delta currently has an average rating of “Buy” and a consensus target price of C$5.83.

Spartan Delta Price Performance

SDE opened at C$3.90 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 30.43. The stock has a market capitalization of C$675.48 million, a P/E ratio of 4.70 and a beta of 1.49. The stock has a 50-day moving average price of C$3.54 and a 200-day moving average price of C$3.69. Spartan Delta has a 12-month low of C$2.78 and a 12-month high of C$4.36.

Spartan Delta (TSE:SDE) last issued its earnings results on Tuesday, November 5th. The company reported C$0.02 earnings per share (EPS) for the quarter. The business had revenue of C$60.55 million during the quarter. Spartan Delta had a return on equity of 37.82% and a net margin of 50.10%. Equities analysts predict that Spartan Delta will post 0.305004 earnings per share for the current fiscal year.

About Spartan Delta

Spartan Delta Corp. engages in the exploration, development, and production of oil and natural gas reserves in the Western Canada. Its assets are located in Montney and Deep Basin. The company was formerly known as Return Energy Inc and changed its name to Spartan Delta Corp. in May 2020. The company was incorporated in 2006 and is headquartered in Calgary, Canada.