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

Ensign Energy Services (TSE:ESI) had its target price dropped by investment analysts at Royal Bank of Canada from C$4.00 to C$3.50 in a research report issued on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 48.94% from the company’s previous close.

A number of other research firms have also 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 company a “neutral” rating in a research report on Monday, April 22nd. Stifel Nicolaus lifted their price target on shares of Ensign Energy Services from C$2.50 to C$2.75 and gave the company a “hold” rating in a research report on Monday, March 4th. Finally, BMO Capital Markets lifted their price target on shares of 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Ensign Energy Services currently has a consensus rating of “Moderate Buy” and a consensus price target of C$4.11.

Ensign Energy Services Stock Down 2.1 %

ESI traded down C$0.05 during midday trading on Tuesday, hitting C$2.35. 479,298 shares of the company’s stock traded hands, compared to its average volume of 250,715. The company has a market cap of C$429.77 million, a PE ratio of 10.73, a price-to-earnings-growth ratio of 202.94 and a beta of 3.10. The stock’s fifty day simple moving average is C$2.52 and its 200-day simple moving average is C$2.32. 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 has a one year low of C$1.77 and a one year high of C$3.78.

Ensign Energy Services (TSE:ESI) last issued its quarterly earnings data 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. Ensign Energy Services had a net margin of 2.30% and a return on equity of 3.21%. The firm had revenue of C$430.54 million for the quarter, compared to analyst estimates of C$444.50 million. As a group, equities analysts anticipate that Ensign Energy Services will post 0.1998433 earnings per share for the current fiscal year.

About Ensign Energy Services

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.