MEG Energy (TSE:MEG – Free Report) had its price objective trimmed by Jefferies Financial Group from C$35.00 to C$32.00 in a report released on Monday morning, BayStreet.CA reports. The firm currently has a hold rating on the stock.
MEG has been the topic of a number of other reports. Royal Bank of Canada raised their price objective on MEG Energy from C$32.00 to C$39.00 in a report on Tuesday, April 9th. CIBC raised their price objective on MEG Energy from C$30.00 to C$34.00 and gave the company a neutral rating in a research note on Monday, April 22nd. TD Securities upgraded MEG Energy from a hold rating to a strong-buy rating in a research note on Friday, June 7th. BMO Capital Markets raised their price objective on MEG Energy from C$35.00 to C$37.00 in a research note on Thursday, March 28th. Finally, Desjardins raised their price objective on MEG Energy from C$30.00 to C$31.00 and gave the company a hold rating in a research note on Friday, March 22nd. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, MEG Energy currently has an average rating of Hold and an average price target of C$33.08.
View Our Latest Research Report on MEG Energy
MEG Energy Trading Down 1.1 %
MEG Energy (TSE:MEG – Get Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported C$0.36 EPS for the quarter, missing analysts’ consensus estimates of C$0.45 by C($0.09). The firm had revenue of C$1.36 billion during the quarter, compared to analysts’ expectations of C$1.25 billion. MEG Energy had a return on equity of 13.20% and a net margin of 10.58%. On average, equities research analysts expect that MEG Energy will post 2.4508333 EPS for the current year.
MEG Energy Company Profile
MEG Energy Corp., an energy company, focuses on sustainable in situ thermal oil production in its Christina Lake Project in the southern Athabasca oil region of Alberta, Canada. The company develops oil recovery projects that utilize steam-assisted gravity drainage extraction methods to improve the recovery of oil, as well as lower carbon emissions.
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