FY2018 Earnings Forecast for Pine Cliff Energy Ltd (PNE) Issued By Cormark
Pine Cliff Energy Ltd (TSE:PNE) – Cormark reduced their FY2018 earnings per share estimates for Pine Cliff Energy in a research note issued on Thursday, November 8th. Cormark analyst A. Arif now expects that the company will post earnings per share of ($0.16) for the year, down from their prior forecast of ($0.15). Cormark also issued estimates for Pine Cliff Energy’s Q2 2019 earnings at ($0.03) EPS, Q4 2019 earnings at ($0.02) EPS and FY2019 earnings at ($0.10) EPS.
Separately, CIBC upgraded Pine Cliff Energy from an “underperform” rating to a “neutral” rating and increased their price target for the company from C$0.35 to C$0.50 in a research note on Friday, July 20th.
About Pine Cliff Energy
Pine Cliff Energy Ltd. engages in the acquisition, exploration for, development, and production of natural gas, crude oil, and natural gas liquids in the Western Canadian Sedimentary Basin. The company primarily holds interests in natural gas assets in the Southern core area and Edson core area; and oil and natural gas assets in the Viking and Ghost Pine area of Central Alberta.
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