Brokers

Stifel Firstegy Brokers Boost Earnings Estimates for Headwater Exploration Inc. (TSE:HWX)


Headwater Exploration Inc. (TSE:HWXGet Rating) – Stock analysts at Stifel Firstegy lifted their FY2022 earnings per share (EPS) estimates for shares of Headwater Exploration in a research note issued on Thursday, May 19th. Stifel Firstegy analyst C. Kwong now anticipates that the company will post earnings per share of $0.73 for the year, up from their prior forecast of $0.68.

Headwater Exploration (TSE:HWXGet Rating) last released its earnings results on Thursday, March 10th. The company reported C$0.15 EPS for the quarter, beating the consensus estimate of C$0.10 by C$0.05. The business had revenue of C$70.13 million for the quarter.

Other research analysts have also issued reports about the stock. Raymond James raised their target price on shares of Headwater Exploration from C$8.50 to C$10.00 and gave the company an “outperform” rating in a research note on Friday, May 13th. National Bankshares raised their price objective on shares of Headwater Exploration from C$7.75 to C$9.00 and gave the stock an “outperform” rating in a report on Wednesday, February 2nd. Stifel Nicolaus raised their price objective on shares of Headwater Exploration from C$10.25 to C$10.75 in a report on Monday, May 16th. BMO Capital Markets lifted their price target on shares of Headwater Exploration from C$9.00 to C$10.00 in a report on Friday, March 11th. Finally, Royal Bank of Canada lifted their price target on shares of Headwater Exploration from C$7.50 to C$8.50 and gave the company an “outperform” rating in a report on Wednesday, February 2nd.

Shares of HWX opened at C$6.93 on Monday. The company’s fifty day moving average is C$6.85 and its 200-day moving average is C$6.23. Headwater Exploration has a 12 month low of C$3.39 and a 12 month high of C$7.66. The firm has a market cap of C$1.55 billion and a price-to-earnings ratio of 33.00. The company has a quick ratio of 2.51, a current ratio of 2.55 and a debt-to-equity ratio of 0.39.

In related news, Director Phillip R. Knoll sold 60,000 shares of the business’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of C$7.33, for a total transaction of C$439,704.00. Following the transaction, the director now directly owns 411,313 shares in the company, valued at C$3,014,266.19.

About Headwater Exploration (Get Rating)

Headwater Exploration Inc, a junior resource company, engages in the exploration, development, and production of petroleum and natural gas in the Western Canadian Sedimentary Basin and onshore in New Brunswick. It holds interests in the McCully Field located to the northeast of Sussex, New Brunswick; the Clearwater play located in the Marten Hills, Alberta; and the Frederick Brook shale gas prospect located in New Brunswick.

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