Clarus Securities Comments on Pine Cliff Energy Ltd’s FY2017 Earnings (PNE)

Pine Cliff Energy Ltd (TSE:PNE) – Stock analysts at Clarus Securities dropped their FY2017 earnings per share estimates for shares of Pine Cliff Energy in a research report issued on Thursday. Clarus Securities analyst R. Pare now forecasts that the company will post earnings per share of ($0.14) for the year, down from their prior forecast of ($0.03). Clarus Securities currently has a “Buy” rating on the stock. Clarus Securities also issued estimates for Pine Cliff Energy’s FY2018 earnings at ($0.09) EPS.

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A number of other equities analysts have also issued reports on PNE. TD Securities decreased their price target on Pine Cliff Energy from C$0.85 to C$0.80 and set a “hold” rating for the company in a research note on Friday, August 11th. Industrial Alliance Securities lowered Pine Cliff Energy from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Pine Cliff Energy presently has an average rating of “Hold” and an average target price of C$1.18.

Pine Cliff Energy (PNE) opened at C$0.62 on Monday. Pine Cliff Energy has a one year low of C$0.49 and a one year high of C$1.22.

In related news, insider Robert Disbrow acquired 125,000 shares of Pine Cliff Energy stock in a transaction dated Tuesday, October 3rd. The stock was acquired at an average cost of C$0.60 per share, with a total value of C$75,000.00. Over the last three months, insiders have bought 437,500 shares of company stock valued at $262,885.

About Pine Cliff Energy

Pine Cliff Energy Ltd. (Pine Cliff) is a Canada-based oil and gas exploration and production company. The Company is engaged in the exploration, development and production of oil and natural gas in the Western Canadian Sedimentary Basin (WCSB). It is also involved in the exploration for precious metals through its subsidiaries.

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

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