Spartan Delta (TSE:SDE) Posts Earnings Results

Spartan Delta (TSE:SDE) posted its quarterly earnings results on Tuesday. The company reported C($0.07) earnings per share for the quarter, FiscalAI reports. The company had revenue of C$136.90 million during the quarter. Spartan Delta had a net margin of 17.79% and a return on equity of 11.57%.

Spartan Delta Price Performance

SDE opened at C$13.55 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.87 and a debt-to-equity ratio of 29.03. Spartan Delta has a 12 month low of C$2.61 and a 12 month high of C$14.00. The company has a fifty day simple moving average of C$11.86 and a 200 day simple moving average of C$9.14. The stock has a market cap of C$2.74 billion, a P/E ratio of 38.71 and a beta of 0.05.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on SDE shares. Scotiabank increased their price target on Spartan Delta from C$8.00 to C$11.00 and gave the company an “outperform” rating in a research note on Wednesday, January 21st. Desjardins upped their price objective on shares of Spartan Delta from C$9.50 to C$11.00 and gave the company a “hold” rating in a research report on Tuesday, February 24th. Roth Mkm set a C$13.50 price objective on shares of Spartan Delta and gave the company a “buy” rating in a research report on Wednesday, March 4th. National Bank Financial upped their price objective on shares of Spartan Delta from C$7.50 to C$9.00 and gave the company an “outperform” rating in a research report on Tuesday, January 6th. Finally, TD Securities upped their price objective on shares of Spartan Delta from C$9.50 to C$12.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Spartan Delta currently has a consensus rating of “Moderate Buy” and an average price target of C$11.09.

Spartan Delta Company Profile

Spartan is committed to creating value for its shareholders, focused on sustainability in both operations and financial performance. The Company’s culture is centered on generating Free Funds Flow through responsible oil and gas exploration and development. The Company has established a portfolio of high-quality production and development opportunities in the Deep Basin and the Duvernay. Spartan will continue to focus on the execution of the Company’s organic drilling program across its portfolio, delivering operational synergies in a respectful and responsible manner in relation to the environment and communities it operates in.