Nuvista Energy Ltd (NVA) to Post FY2019 Earnings of $0.36 Per Share, Cormark Forecasts

Nuvista Energy Ltd (TSE:NVA) – Equities researchers at Cormark reduced their FY2019 earnings per share estimates for shares of Nuvista Energy in a research note issued on Wednesday, May 8th. Cormark analyst A. Arif now forecasts that the company will post earnings of $0.36 per share for the year, down from their previous forecast of $0.39.

Nuvista Energy (TSE:NVA) last issued its quarterly earnings results on Tuesday, March 5th. The company reported C$0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.04 by C($0.03). The firm had revenue of C$143.01 million during the quarter, compared to analyst estimates of C$138.20 million.

Several other equities analysts have also issued reports on the company. BMO Capital Markets set a C$6.50 price target on Nuvista Energy and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Canaccord Genuity raised Nuvista Energy from a “hold” rating to a “buy” rating and upped their price target for the company from C$5.00 to C$6.00 in a research note on Tuesday, April 9th. CIBC upped their price target on Nuvista Energy from C$7.50 to C$8.00 in a research note on Tuesday, April 23rd. TD Securities cut their price target on Nuvista Energy from C$8.50 to C$8.00 and set a “buy” rating on the stock in a research note on Friday, February 8th. Finally, Raymond James reaffirmed an “outperform” rating and set a C$6.00 price target on shares of Nuvista Energy in a research note on Friday, February 8th. Six research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of C$8.23.

Shares of NVA opened at C$3.77 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.52 and a debt-to-equity ratio of 39.99. Nuvista Energy has a 12-month low of C$3.38 and a 12-month high of C$9.89. The firm has a market cap of $838.14 million and a PE ratio of 5.31.

In other Nuvista Energy news, Director Keith A.J. Macphail sold 10,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of C$4.68, for a total value of C$46,800.00. Following the transaction, the director now owns 2,487,042 shares of the company’s stock, valued at C$11,639,356.56. Insiders sold 40,000 shares of company stock worth $182,600 in the last three months.

About Nuvista Energy

NuVista Energy Ltd., an oil and natural gas company, engages in the exploration, development, delineation, and production of condensate, and oil and natural gas reserves in the Western Canadian Sedimentary Basin in Canada. It primarily focuses on the condensate-rich Montney formation in the Wapiti area of the Alberta Deep Basin.

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Earnings History and Estimates for Nuvista Energy (TSE:NVA)

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