FY2016 Earnings Estimate for Essential Energy Services Ltd (ESN) Issued By Cormark
Essential Energy Services Ltd (TSE:ESN) – Equities researchers at Cormark reduced their FY2016 earnings per share (EPS) estimates for shares of Essential Energy Services in a note issued to investors on Wednesday. Cormark analyst J. Zhang now forecasts that the brokerage will post earnings of ($0.99) per share for the year, down from their previous estimate of ($0.54). Cormark also issued estimates for Essential Energy Services’ Q4 2016 earnings at ($0.02) EPS, FY2017 earnings at ($0.04) EPS and FY2018 earnings at $0.01 EPS.
ESN has been the subject of several other reports. AltaCorp Capital downgraded Essential Energy Services from an “outperform” rating to a “sector perform” rating in a research note on Monday, July 11th. TD Securities restated a “buy” rating and issued a C$0.90 price target on shares of Essential Energy Services in a research note on Thursday, August 11th. Clarus Securities downgraded Essential Energy Services from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Finally, Raymond James Financial Inc. dropped their price target on Essential Energy Services from C$1.40 to C$1.35 and set a “strong-buy” rating for the company in a research note on Thursday. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of C$0.95.
Essential Energy Services (TSE:ESN) opened at 0.62 on Friday. The stock’s market capitalization is $78.02 million. Essential Energy Services has a 1-year low of $0.45 and a 1-year high of $0.78. The firm’s 50 day moving average is $0.67 and its 200 day moving average is $0.65.
About Essential Energy Services
Essential Energy Services Ltd. provides oilfield services to oil and gas exploration and production companies in western Canada. The Company operates through two segments: Well Servicing, and Downhole Tools & Rentals. The Well Servicing segment provides well completion, production and workover services throughout the Western Canadian Sedimentary Basin (WCSB).
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