SurgePays, Inc. to Post Q1 2024 Earnings of $0.27 Per Share, Sidoti Csr Forecasts (NASDAQ:SURG)

SurgePays, Inc. (NASDAQ:SURG) – Analysts at Sidoti Csr issued their Q1 2024 earnings estimates for SurgePays in a research report issued to clients and investors on Tuesday, April 23rd. Sidoti Csr analyst A. Soderstrom expects that the medical equipment provider will earn $0.27 per share for the quarter. Sidoti Csr also issued estimates for SurgePays’ Q2 2024 earnings at $0.00 EPS, Q3 2024 earnings at $0.05 EPS, Q4 2024 earnings at $0.09 EPS, FY2024 earnings at $0.42 EPS, Q1 2025 earnings at $0.13 EPS, Q2 2025 earnings at $0.14 EPS, Q3 2025 earnings at $0.16 EPS, Q4 2025 earnings at $0.17 EPS and FY2025 earnings at $0.61 EPS.

SurgePays (NASDAQ:SURG) last posted its earnings results on Tuesday, March 12th. The medical equipment provider reported $0.19 EPS for the quarter. The firm had revenue of $32.32 million for the quarter. SurgePays had a net margin of 15.03% and a return on equity of 104.66%.

SURG has been the subject of a number of other reports. Ascendiant Capital Markets decreased their price target on shares of SurgePays from $11.50 to $10.00 and set a “buy” rating for the company in a report on Monday, April 1st. Maxim Group cut shares of SurgePays from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th.

SurgePays Trading Down 5.3 %

SurgePays stock opened at $3.33 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.63 and a quick ratio of 1.91. The company has a market capitalization of $64.24 million, a price-to-earnings ratio of 2.40 and a beta of 1.08. SurgePays has a one year low of $3.28 and a one year high of $9.23. The company’s fifty day moving average price is $5.24 and its two-hundred day moving average price is $5.78.

Institutional Investors Weigh In On SurgePays

Several hedge funds have recently made changes to their positions in SURG. Bailard Inc. lifted its stake in shares of SurgePays by 340.9% in the third quarter. Bailard Inc. now owns 59,075 shares of the medical equipment provider’s stock valued at $276,000 after buying an additional 45,675 shares during the period. James Investment Research Inc. bought a new stake in shares of SurgePays in the third quarter valued at about $47,000. FNY Investment Advisers LLC bought a new stake in shares of SurgePays in the fourth quarter valued at about $95,000. Victory Capital Management Inc. acquired a new position in SurgePays in the fourth quarter worth about $106,000. Finally, Jump Financial LLC raised its position in SurgePays by 44.7% in the fourth quarter. Jump Financial LLC now owns 16,500 shares of the medical equipment provider’s stock worth $106,000 after purchasing an additional 5,100 shares in the last quarter. Institutional investors own 6.94% of the company’s stock.

About SurgePays

SurgePays, Inc, together with its subsidiaries, operates as a financial technology and telecom company in the United States. It operates through three segments: Mobile Virtual Network Operators, Comprehensive Platform Services, and Lead Generation. The company offers subsidized and non-subsidized mobile virtual network operators for internet connectivity through mobile broadband services to consumers; ACH banking relationships and fintech transactions platform to convenience stores; wireless top-up transactions and wireless product aggregation; and lead generation and case management solutions primarily to law firms in the mass tort industry, as well as call center activities.