Africa Oil Corp reports results for the quarter ended in June - Earnings Summary

Meren Energy

15/08/2024 08:09

* Africa Oil Corp  AOI.TO  reported quarterly breakeven
results​​
per share for the quarter ended in June, lower than the same
quarter last year, when the company reported EPS of 36 cents. 
The mean expectation of two analysts for the quarter was
for earnings of 8 cents per share. Wall Street expected
results to range from 5 cents to 10 cents per share.
    * Revenue fell 94.6% to $9.70 million from a year ago;
analysts
expected $53.00 million. 
    * Africa Oil Corp's reported EPS for the quarter was
breakeven
results​.
    * The company reported quarterly net income of $400
thousand.
    * Africa Oil Corp shares had fallen by 11.1% this
quarter and
lost 12.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 50% in
the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 6 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the oil & gas
exploration and production peer group is  "buy."

Wall Street's median 12-month price target for Africa Oil Corp
is C$3.72 
This summary was machine generated from LSEG data August 15 at
07:09 a.m. UTC. ​All figures in US 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) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.08           0.00           Missed
 Mar. 31 2024      0.06           0.01           Missed
 Dec. 31 2023      0.05           -0.19          Missed
 Sep. 30 2023      0.12           0.10           Missed