Essential Energy Services Ltd (TSE:ESN) – Equities researchers at Raymond James Financial cut their Q3 2016 earnings estimates for Essential Energy Services in a report issued on Wednesday. Raymond James Financial analyst A. Bradford now forecasts that the firm will earn ($0.04) per share for the quarter, down from their previous estimate of ($0.02). Raymond James Financial currently has a “Strong-Buy” rating and a $1.35 target price on the stock. Raymond James Financial also issued estimates for Essential Energy Services’ Q2 2017 earnings at ($0.03) EPS and Q2 2018 earnings at ($0.01) EPS.

Earnings History and Estimates for Essential Energy Services (TSE:ESN)

Several other equities research analysts have also commented on ESN. Clarus Securities lowered shares of Essential Energy Services from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. TD Securities cut their price target on shares of Essential Energy Services from C$0.90 to C$0.85 and set a “buy” rating for the company in a report on Thursday, October 13th. Finally, AltaCorp Capital lowered shares of Essential Energy Services from an “outperform” rating to a “sector perform” rating in a report on Monday, July 11th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Essential Energy Services currently has an average rating of “Buy” and an average target price of C$0.95.

Shares of Essential Energy Services (TSE:ESN) opened at 0.61 on Monday. Essential Energy Services has a one year low of $0.45 and a one year high of $0.78. The company’s market cap is $76.76 million. The company’s 50-day moving average is $0.66 and its 200-day moving average is $0.65.

Essential Energy Services Company Profile

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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