Gran Tierra Energy Inc (GTE) to Post FY2017 Earnings of $0.10 Per Share, Cormark Forecasts
Gran Tierra Energy Inc (TSE:GTE) (AMEX:GTE) – Research analysts at Cormark cut their FY2017 earnings estimates for Gran Tierra Energy in a note issued to investors on Friday. Cormark analyst G. Ursu now forecasts that the company will post earnings of $0.10 per share for the year, down from their prior estimate of $0.16. Cormark also issued estimates for Gran Tierra Energy’s Q4 2017 earnings at $0.08 EPS, Q3 2018 earnings at $0.09 EPS, Q4 2018 earnings at $0.09 EPS, FY2018 earnings at $0.36 EPS and FY2019 earnings at $0.45 EPS.
Gran Tierra Energy (TSE:GTE) (AMEX:GTE) last released its earnings results on Thursday, November 2nd. The company reported C$0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.05 by C($0.04). The company had revenue of C$103.77 million during the quarter, compared to analysts’ expectations of C$110.60 million. Gran Tierra Energy had a negative net margin of 7.08% and a negative return on equity of 2.76%. The company’s revenue for the quarter was up 51.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.71) earnings per share.
A number of other research firms have also recently weighed in on GTE. Scotiabank restated an “outperform” rating and issued a C$5.50 price target on shares of Gran Tierra Energy in a research note on Friday. Eight Capital cut their price target on Gran Tierra Energy from C$6.50 to C$5.25 in a research note on Wednesday, September 27th. Finally, Zacks Investment Research cut Gran Tierra Energy from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of C$4.88.
Shares of Gran Tierra Energy (GTE) opened at C$2.93 on Monday. Gran Tierra Energy has a 52 week low of C$2.41 and a 52 week high of C$4.36.
In other Gran Tierra Energy news, Director Brooke N. Wade purchased 242,600 shares of the business’s stock in a transaction on Friday, September 29th. The shares were bought at an average cost of C$2.31 per share, for a total transaction of C$560,406.00. Following the completion of the purchase, the director now directly owns 242,600 shares in the company, valued at C$560,406. Also, insider Gmt Capital Corp purchased 15,100 shares of the business’s stock in a transaction on Friday, September 1st. The stock was acquired at an average price of C$2.04 per share, for a total transaction of C$30,804.00. Over the last 90 days, insiders acquired 338,100 shares of company stock worth $760,048.
Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC increased its position in shares of Gran Tierra Energy by 10.4% during the first quarter. Jane Street Group LLC now owns 40,479 shares of the company’s stock worth $107,000 after purchasing an additional 3,818 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Gran Tierra Energy during the second quarter worth about $114,000. Karp Capital Management Corp acquired a new stake in shares of Gran Tierra Energy during the first quarter worth about $182,000. Aperio Group LLC increased its position in shares of Gran Tierra Energy by 6.9% during the second quarter. Aperio Group LLC now owns 73,692 shares of the company’s stock worth $165,000 after purchasing an additional 4,769 shares in the last quarter. Finally, KCG Holdings Inc. increased its position in shares of Gran Tierra Energy by 30.0% during the first quarter. KCG Holdings Inc. now owns 111,290 shares of the company’s stock worth $294,000 after purchasing an additional 25,714 shares in the last quarter.
Gran Tierra Energy Company Profile
Gran Tierra Energy Inc is an energy company engaged in oil and gas acquisition, exploration, development and production. The Company focuses on onshore oil and gas properties in Colombia, and also own rights to oil and gas properties in Brazil and Peru. Its segments are Colombia, Peru and Brazil based on geographic organization.
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