Atb Cap Markets Forecasts Reduced Earnings for Gear Energy

Gear Energy Ltd. (TSE:GXE) – Atb Cap Markets lowered their FY2024 EPS estimates for Gear Energy in a report issued on Thursday, November 7th. Atb Cap Markets analyst A. Arif now expects that the company will post earnings per share of $0.10 for the year, down from their prior estimate of $0.11. Atb Cap Markets has a “Hold” rating on the stock. The consensus estimate for Gear Energy’s current full-year earnings is $0.14 per share. Atb Cap Markets also issued estimates for Gear Energy’s Q4 2024 earnings at $0.02 EPS, FY2025 earnings at $0.09 EPS and FY2026 earnings at $0.02 EPS.

Gear Energy Stock Down 5.5 %

Shares of GXE opened at C$0.52 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.56 and a debt-to-equity ratio of 6.26. Gear Energy has a 12 month low of C$0.52 and a 12 month high of C$0.80. The firm’s 50 day moving average is C$0.59 and its 200-day moving average is C$0.66. The stock has a market capitalization of C$137.06 million, a PE ratio of 10.40 and a beta of 3.52.

Insider Buying and Selling at Gear Energy

In related news, Director Scott Robinson purchased 74,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were bought at an average price of C$0.59 per share, for a total transaction of C$43,978.20. Insiders own 7.62% of the company’s stock.

Gear Energy Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.005 per share. The ex-dividend date is Friday, November 15th. This represents a $0.06 dividend on an annualized basis and a yield of 11.54%. Gear Energy’s dividend payout ratio (DPR) is presently 120.00%.

Gear Energy Company Profile

Gear Energy Ltd., an exploration and production company, engages in the acquiring, developing, and holding of interests in petroleum and natural gas properties and assets in Canada. The company's oil properties are located in Central Alberta, West Central Saskatchewan, and Southeast Saskatchewan.