MEG Energy Corp reports results for the quarter ended March 31 - Earnings Summary

• MEG Energy Corp MEG.TO reported quarterly adjusted earnings of 82 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of 36 cents. The mean expectation of five analysts for the quarter was for earnings of 68 cents per share. Wall Street expected results to range from 60 cents to 86 cents per share.

• Revenue fell 14.8% to C$1.16 billion from a year ago; analysts expected C$1.12 billion.

• MEG Energy Corp's reported EPS for the quarter was 82 cents​.

• The company reported quarterly net income of C$211 million.

• MEG Energy Corp shares had fallen by 22.3% this quarter and lost 16.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 8.9% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy," 7 "hold" and no "sell" or "strong sell." The average consensus recommendation for the oil & gas exploration and production peer group is also "buy"

• Wall Street's median 12-month price target for MEG Energy Corp is C$29.00

This summary was machine generated from LSEG data May 6 at 11:26 p.m. UTC. ​All figures in Canadian dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)