Ensign Energy Services (TSE:ESI) Price Target Cut to C$3.50

Ensign Energy Services (TSE:ESI) had its target price cut by investment analysts at Royal Bank of Canada from C$4.00 to C$3.50 in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 52.17% from the stock’s current price.

A number of other equities analysts have also recently commented on ESI. CIBC lifted their price target on shares of Ensign Energy Services from C$3.25 to C$3.75 and gave the stock a “neutral” rating in a research note on Monday, April 22nd. BMO Capital Markets boosted their target price on Ensign Energy Services from C$3.00 to C$3.50 and gave the company an “outperform” rating in a research report on Monday, March 4th. Finally, Stifel Nicolaus upped their target price on Ensign Energy Services from C$2.50 to C$2.75 and gave the company a “hold” rating in a research note on Monday, March 4th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$4.11.

Ensign Energy Services Trading Down 0.9 %

Shares of TSE ESI opened at C$2.30 on Tuesday. The stock has a market capitalization of C$420.62 million, a P/E ratio of 10.45, a PEG ratio of 202.94 and a beta of 3.10. Ensign Energy Services has a 1-year low of C$1.77 and a 1-year high of C$3.78. The business’s 50 day moving average is C$2.52 and its two-hundred day moving average is C$2.31. The company has a debt-to-equity ratio of 94.00, a current ratio of 1.04 and a quick ratio of 1.30.

Ensign Energy Services (TSE:ESI) last released its earnings results on Friday, March 1st. The company reported C$0.17 earnings per share for the quarter, beating the consensus estimate of C$0.03 by C$0.14. The firm had revenue of C$430.54 million for the quarter, compared to the consensus estimate of C$444.50 million. Ensign Energy Services had a return on equity of 3.21% and a net margin of 2.30%. As a group, research analysts expect that Ensign Energy Services will post 0.1998433 EPS for the current year.

Ensign Energy Services Company Profile

Ensign Energy Services Inc, together with its subsidiaries, provides oilfield services to the crude oil and natural gas industries in Canada, the United States, and internationally. The company offers shallow, intermediate, and deep well drilling, as well as specialized drilling services, including horizontal, underbalanced, horizontal re-entry, and slant drilling for steam assisted gravity drainage applications; and equipment and services.