Today: Parex Resources Inc. (PXT) to Post Q1 2017 Earnings of $0.22 Per Share, Cormark Forecasts

Today: Parex Resources Inc. (PXT) to Post Q1 2017 Earnings of $0.22 Per Share, Cormark Forecasts

Parex Resources Inc. (TSE:PXT) – Cormark lifted their Q1 2017 earnings per share estimates for shares of Parex Resources in a report released on Thursday. Cormark analyst G. Ursu now forecasts that the firm will earn $0.22 per share for the quarter, up from their previous estimate of $0.21. Cormark also issued estimates for Parex Resources’ Q3 2018 earnings at $0.45 EPS and FY2018 earnings at $1.73 EPS.

Several other equities research analysts also recently weighed in on PXT. CIBC increased their price target on Parex Resources from C$15.00 to C$17.50 in a report on Friday, August 12th. FirstEnergy Capital increased their price target on Parex Resources from C$14.00 to C$17.00 in a report on Thursday, August 11th. Canaccord Genuity increased their price target on Parex Resources from C$17.00 to C$20.00 and gave the stock a “buy” rating in a report on Friday, September 9th. Haywood Securities increased their price target on Parex Resources from C$18.00 to C$21.00 and gave the stock a “buy” rating in a report on Tuesday, August 23rd. Finally, Mackie increased their price target on Parex Resources from C$16.00 to C$16.75 and gave the stock a “buy” rating in a report on Thursday, August 11th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of C$16.54.

Shares of Parex Resources (TSE:PXT) opened at 16.90 on Monday. Parex Resources has a 52 week low of $7.74 and a 52 week high of $17.94. The firm’s 50-day moving average is $16.32 and its 200 day moving average is $14.73. The firm’s market cap is $2.58 billion.

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