Meren Energy (TSE:MER – Get Free Report) issued its quarterly earnings data on Tuesday. The company reported C$0.07 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$279.47 million during the quarter.
Meren Energy Price Performance
TSE:MER opened at C$2.06 on Wednesday. Meren Energy has a fifty-two week low of C$1.65 and a fifty-two week high of C$2.58. The firm’s 50 day moving average price is C$2.04. The firm has a market cap of C$1.39 billion, a P/E ratio of -9.36 and a beta of 0.23.
Wall Street Analysts Forecast Growth
Separately, Scotiabank lowered Meren Energy from a “strong-buy” rating to a “hold” rating and set a C$2.50 target price for the company. in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Meren Energy has a consensus rating of “Hold” and an average target price of C$2.50.
Meren Energy Company Profile
Meren is a full-cycle Independent upstream oil and gas company with interests offshore Nigeria, Namibia, South Africa and Equatorial Guinea. Its main assets are producing and development assets in deepwater Nigeria. The Company holds a leading position in the Orange Basin including its effective interest in the Venus light oil project, offshore Namibia, and its direct interest in Block 3B/4B, offshore South Africa.
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