FY2022 EPS Estimates for Rubelite Energy Inc. Reduced by Analyst (TSE:RBY)

Rubellite Energy Inc. (TSE:RBY – Get Rating) – Research analysts at Stifel Firstegy dropped their FY2022 earnings per share (EPS) estimates for Rubellite Energy in a report issued on Thursday, July 14th. Stifel Firstegy analyst R. Fitzmartyn now anticipates that the company will post earnings of $0.22 per share for the year, down from their prior forecast of $0.28. Stifel Firstegy has a “Hold” rating on the stock. The consensus estimate for Rubellite Energy’s current full-year earnings is $0.96 per share. Stifel Firstegy also issued estimates for Rubellite Energy’s FY2023 earnings at $0.80 EPS.

Rubellite Energy (TSE:RBY – Get Rating) last issued its earnings results on Wednesday, May 11th. The company reported C$0.03 EPS for the quarter, meeting analysts’ consensus estimates of C$0.03. The company had revenue of C$10.88 million during the quarter, compared to analyst estimates of C$6.70 million.

A number of other research firms have also recently weighed in on RBY. Raymond James set a C$6.00 price target on Rubellite Energy and gave the company an “outperform” rating in a report on Thursday, April 7th. Cormark raised Rubellite Energy from a “buy” rating to a “top pick” rating and lifted their price target for the company from C$6.75 to C$7.25 in a report on Monday, April 18th. BMO Capital Markets began coverage on Rubellite Energy in a report on Friday, May 20th. They set a “buy” rating and a C$6.00 price target on the stock. Finally, Stifel Nicolaus raised Rubellite Energy from a “hold” rating to a “buy” rating in a report on Monday, July 4th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of C$6.42.

Rubellite Energy Stock Up 7.8%

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Shares of RBY stock opened at C$3.03 on Monday. The company has a debt-to-equity ratio of 392.73, a quick ratio of 1.21 and a current ratio of 1.23. The company has a 50 day moving average of C$3.90. Rubellite Energy has a 52 week low of C$2.10 and a 52 week high of C$5.14. The firm has a market capitalization of C$165.81 million and a P/E ratio of 9.77.

About Rubellite Energy

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Rubellite Energy Inc engages in the exploration, development, production, and sale of heavy crude oil from the Clearwater Formation in Eastern Alberta. The company was incorporated in 2021 and is headquartered in Calgary, Canada. Rubellite Energy Inc is a subsidiary of Perpetual Energy Inc

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Earnings History and Estimates for Rubellite Energy (TSE:RBY)

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