BMO Capital Markets Cuts Spartan Delta (TSE:SDE) Price Target to C$5.00

Spartan Delta (TSE:SDE) had its price target dropped by investment analysts at BMO Capital Markets from C$6.00 to C$5.00 in a research note issued to investors on Friday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 61.81% from the stock’s current price.

A number of other research firms also recently issued reports on SDE. Cormark raised shares of Spartan Delta to a “strong-buy” rating in a report on Monday, September 23rd. National Bankshares cut their price objective on Spartan Delta from C$6.00 to C$5.50 in a report on Friday, September 27th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of C$5.50.

Spartan Delta Price Performance

Spartan Delta stock opened at C$3.09 on Friday. The company has a debt-to-equity ratio of 30.43, a current ratio of 0.93 and a quick ratio of 0.66. Spartan Delta has a one year low of C$2.78 and a one year high of C$4.36. The firm has a market capitalization of C$535.19 million, a P/E ratio of 3.72 and a beta of 1.49. The business has a fifty day moving average price of C$3.46 and a 200-day moving average price of C$3.79.

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

Spartan Delta Company Profile

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.