Price: $0.21Wilsons rates ((STX)) as Overweight (1) -Wilsons...

Price: $0.21Wilsons rates ((STX)) as Overweight (1) -Wilsons lowers its resource estimates for Strike Energy's South Erregulla and flow rate expectations by around -50% after flow test issues at SE-2, following SE-3 flow test issues in the prior week. Water has been prohibiting commercial gas flow from both these wells due to causes unknown at this juncture, explains the broker.
The analyst not only downgrades its South Erregulla asset resource and flow rate expectations, but also increases the risk realating to potential upside to the asset and neighbouring prospects.The Overweight rating is retained for Strike Energy though the target is slashed to 34c from 53c.
This report was published on February 21, 2024.Target price is $0.34 Current Price is $0.21 Difference: $0.13If STX meets the Wilsons target it will return approximately 62% (excluding dividends, fees and charges).
Current consensus price target is $0.39, suggesting upside of 87.3%(ex-dividends)The company's fiscal year ends in June.Forecast for FY24:Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of 0.80 cents.At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.25.How do these forecasts compare to market consensus projections?Current consensus EPS estimate is 0.6, implying annual growth of N/A.Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.Current consensus EPS estimate suggests the PER is 35.0.

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