B.Riley FBR analyst Carter Driscoll assigned a Buy rating to Just Energy Group Inc (NYSE: JE) yesterday and set a price target of $6. The company’s shares opened today at $3.05, close to its 52-week low of $2.80.
Driscoll noted:
“We derive our $6.00 price target using the average of two methods: (1) sum of the parts and (2) an EV/EBITDA relative multiple analysis that results in an approximate 6.5x EV/EBITDA off our FY20E EBITDA of C$228 million, assuming constant currency. We believe adjusted EBITDA offers a better measure of Just Energy’s operational profitability than EPS because it is not distorted by noncash, mark-to-market adjustments from the company’s energy portfolio.”
According to TipRanks.com, Driscoll is ranked 0 out of 5 stars with an average return of -7.8% and a 32.8% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Amer Superconductor, and Canadian Solar Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Just Energy Group Inc with a $6.25 average price target.
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Based on Just Energy Group Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $32.05 million. In comparison, last year the company had a net profit of $77.24 million.
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Just Energy Group, Inc. engages in the provision of electricity and natural gas commodities, energy efficient solutions, and renewable energy options. It operates through the Consumer Energy, and Commercial Energy segments. The Consumer Energy segment includes cash and cash equivalents, as well as the long-term debt.
