National Bank Financial Weighs in on Peyto Exploration & Development Corp’s FY2018 Earnings (PEY)

Peyto Exploration & Development Corp (TSE:PEY) – Stock analysts at National Bank Financial lowered their FY2018 earnings estimates for Peyto Exploration & Development in a research report issued on Sunday. National Bank Financial analyst T. Wood now forecasts that the company will post earnings of $1.04 per share for the year, down from their prior forecast of $1.12. National Bank Financial has a “Outperform” rating and a $17.00 price objective on the stock.

Peyto Exploration & Development (TSE:PEY) last announced its quarterly earnings results on Wednesday, November 8th. The company reported C$0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.20 by C$0.07. Peyto Exploration & Development had a return on equity of 10.84% and a net margin of 30.65%.

Several other equities research analysts have also recently commented on the company. TD Securities boosted their price target on Peyto Exploration & Development from C$23.00 to C$25.00 and gave the company a “buy” rating in a research note on Thursday, November 9th. Barclays lowered their price target on Peyto Exploration & Development from C$26.00 to C$19.00 in a research note on Monday, October 30th. BMO Capital Markets cut Peyto Exploration & Development from an “outperform” rating to a “market perform” rating and lowered their price target for the company from C$30.00 to C$23.00 in a research note on Tuesday, October 10th. Royal Bank of Canada decreased their target price on Peyto Exploration & Development from C$26.00 to C$25.00 and set an “outperform” rating for the company in a research report on Friday, November 10th. Finally, Scotiabank decreased their target price on Peyto Exploration & Development from C$33.00 to C$26.00 and set an “outperform” rating for the company in a research report on Thursday, November 9th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of C$16.47.

Shares of Peyto Exploration & Development (TSE PEY) traded down C$0.26 during midday trading on Tuesday, hitting C$12.03. The company had a trading volume of 1,925,859 shares, compared to its average volume of 1,562,652. The company has a market cap of $1,980.00, a PE ratio of 12.15 and a beta of 0.15. Peyto Exploration & Development has a 1-year low of C$11.97 and a 1-year high of C$30.44.

In other Peyto Exploration & Development news, Director Brian Davis purchased 1,800 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was bought at an average cost of C$14.42 per share, for a total transaction of C$25,956.00. Also, Director Stephen Jonathan Chetner purchased 6,500 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were acquired at an average price of C$16.65 per share, with a total value of C$108,225.00.

The business also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $0.72 dividend on an annualized basis and a yield of 5.99%. Peyto Exploration & Development’s payout ratio is currently 133.33%.

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Peyto Exploration & Development Company Profile

Peyto Exploration & Development Corp is a Canada-based energy company. The Company is engaged in acquisition, exploration, development and production of oil and natural gas in Western Canada. Its portfolio of assets includes exploration, exploitation and development opportunities located primarily in the Deep Basin of Alberta.

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