MEG Energy Corp reported quarterly adjusted earnings of 21 cents per share for the quarter ended in September. The mean expectation of six analysts for the quarter was for earnings of 28 cents per share.
Revenue rose 104.7% to C$1.09 billion from a year ago; analysts expected C$1.00 billion. MEG Energy Corp’s reported EPS for the quarter was 17 cents. The mean earnings estimate of analysts had risen by about 2.5% in the last three months.
In the last 30 days one analyst negatively revised an earnings estimate. MEG Energy Corp shares had risen by 15.6% this quarter and gained 156.9% so far this year. The company reported quarterly net income of C$54 million. Wall Street’s median 12-month price target for MEG Energy Corp is C$13.00. The current average analyst rating on the shares is “buy” and the breakdown of recommendations is 9 “strong buy” or “buy,” 6 “hold” and no “sell” or “strong sell.”