Scotiabank Raises Spartan Delta (TSE:SDE) Price Target to C$7.50

Spartan Delta (TSE:SDE) had its price objective raised by investment analysts at Scotiabank from C$6.00 to C$7.50 in a report issued on Thursday,BayStreet.CA reports. Scotiabank’s target price would suggest a potential upside of 92.80% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. National Bankshares increased their target price on Spartan Delta from C$5.75 to C$6.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. BMO Capital Markets cut their price objective on Spartan Delta from C$6.00 to C$5.00 in a research report on Friday, December 13th. One analyst has rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$5.83.

Spartan Delta Stock Performance

Shares of SDE traded up C$0.06 during mid-day trading on Thursday, hitting C$3.89. 75,207 shares of the company’s stock were exchanged, compared to its average volume of 462,508. The company has a current ratio of 0.93, a quick ratio of 0.66 and a debt-to-equity ratio of 30.43. Spartan Delta has a fifty-two week low of C$2.78 and a fifty-two week high of C$4.36. The business’s 50 day moving average is C$3.54 and its two-hundred day moving average is C$3.69. The firm has a market capitalization of C$673.75 million, a P/E ratio of 4.69 and a beta of 1.49.

Spartan Delta (TSE:SDE) last posted its quarterly earnings data on Tuesday, November 5th. The company reported C$0.02 earnings per share for the quarter. The company had revenue of C$60.55 million during the quarter. Spartan Delta had a return on equity of 37.82% and a net margin of 50.10%. On average, equities analysts expect that Spartan Delta will post 0.305004 earnings per share for the current year.

About Spartan Delta

Spartan Delta Corp. engages in the exploration, development, and production of oil and natural gas reserves in the Western Canada. Its assets are located in Montney and Deep Basin. The company was formerly known as Return Energy Inc and changed its name to Spartan Delta Corp. in May 2020. The company was incorporated in 2006 and is headquartered in Calgary, Canada.