Pine Cliff Energy to Post Q2 2018 Earnings of ($0.03) Per Share, Cormark Forecasts (PNE)

Pine Cliff Energy (TSE:PNE) – Research analysts at Cormark cut their Q2 2018 EPS estimates for shares of Pine Cliff Energy in a note issued to investors on Wednesday, May 9th, according to Zacks Investment Research. Cormark analyst A. Arif now forecasts that the company will post earnings of ($0.03) per share for the quarter, down from their previous forecast of ($0.02). Cormark also issued estimates for Pine Cliff Energy’s Q4 2018 earnings at ($0.01) EPS, FY2018 earnings at ($0.12) EPS and FY2019 earnings at ($0.08) EPS.

Other equities analysts have also issued research reports about the company. TD Securities dropped their price objective on Pine Cliff Energy from C$0.50 to C$0.35 and set a “hold” rating on the stock in a report on Thursday, March 15th. National Bank Financial dropped their price objective on Pine Cliff Energy from C$0.50 to C$0.30 and set a “sector perform” rating on the stock in a report on Wednesday, March 14th. CIBC dropped their price objective on Pine Cliff Energy from C$0.50 to C$0.40 in a report on Tuesday, January 23rd. Canaccord Genuity dropped their price objective on Pine Cliff Energy from C$0.80 to C$0.60 in a report on Wednesday, March 14th. Finally, Desjardins dropped their price objective on Pine Cliff Energy from C$0.50 to C$0.40 in a report on Wednesday, February 14th.

Shares of Pine Cliff Energy opened at C$0.34 on Friday, MarketBeat reports. Pine Cliff Energy has a 1 year low of C$0.26 and a 1 year high of C$0.86.

Pine Cliff Energy (TSE:PNE) last posted its earnings results on Tuesday, May 8th. The company reported C($0.05) EPS for the quarter, missing the consensus estimate of C($0.02) by C($0.03). The business had revenue of C$29.71 million during the quarter, compared to analysts’ expectations of C$33.20 million. Pine Cliff Energy had a negative net margin of 126.46% and a negative return on equity of 69.00%.

In related news, insider George Frederick Fink purchased 131,000 shares of the stock in a transaction that occurred on Monday, April 2nd. The shares were purchased at an average price of C$0.31 per share, with a total value of C$40,610.00. Also, insider Robert Disbrow purchased 100,000 shares of the stock in a transaction that occurred on Friday, April 20th. The shares were bought at an average cost of C$0.30 per share, for a total transaction of C$30,000.00. In the last three months, insiders have purchased 649,000 shares of company stock worth $193,195.

Pine Cliff Energy Company Profile

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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Earnings History and Estimates for Pine Cliff Energy (TSE:PNE)

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