Enerflex (TSE:EFX) Stock Price Down 10.6% – Here’s Why

Enerflex Ltd. (TSE:EFX)’s share price fell 10.6% on Wednesday . The stock traded as low as C$23.82 and last traded at C$23.83. 416,139 shares were traded during mid-day trading, a decline of 24% from the average session volume of 546,738 shares. The stock had previously closed at C$26.67.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Desjardins boosted their price objective on shares of Enerflex from C$14.50 to C$17.50 and gave the company a “sector perform” rating in a research report on Monday, October 20th. CIBC boosted their target price on Enerflex from C$11.50 to C$15.25 and gave the company a “neutral” rating in a research note on Friday, November 7th. BMO Capital Markets lifted their price objective on shares of Enerflex from C$20.00 to C$23.00 in a report on Monday, November 10th. Royal Bank Of Canada increased their target price on shares of Enerflex from C$15.00 to C$17.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Finally, TD Securities boosted their price target on shares of Enerflex from C$19.00 to C$23.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$21.34.

Enerflex Stock Performance

The stock has a market capitalization of C$2.89 billion, a price-to-earnings ratio of 21.58 and a beta of 2.41. The company’s fifty day simple moving average is C$21.61 and its 200 day simple moving average is C$17.33. The company has a quick ratio of 1.20, a current ratio of 1.19 and a debt-to-equity ratio of 81.27.

Enerflex (TSE:EFX) last announced its earnings results on Thursday, November 6th. The company reported C$0.30 EPS for the quarter. The business had revenue of C$1.08 billion during the quarter. Enerflex had a negative net margin of 3.72% and a negative return on equity of 8.76%. On average, equities research analysts expect that Enerflex Ltd. will post 0.734413 earnings per share for the current year.

Enerflex Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Monday, December 1st were given a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, November 17th. This is a positive change from Enerflex’s previous quarterly dividend of $0.04. Enerflex’s dividend payout ratio (DPR) is 9.77%.

Insider Activity

In other Enerflex news, insider Paul Mahoney bought 18,250 shares of Enerflex stock in a transaction dated Monday, November 10th. The stock was bought at an average price of C$13.70 per share, with a total value of C$250,025.00. Following the completion of the transaction, the insider owned 36,500 shares in the company, valued at C$500,050. The trade was a 100.00% increase in their position. Insiders have bought a total of 19,302 shares of company stock valued at $271,627 over the last three months. Insiders own 0.49% of the company’s stock.

Enerflex Company Profile

Enerflex Ltd engineers, designs, manufactures and provides aftermarket support for equipment, systems, and turnkey facilities used to process and move natural gas from the wellhead to the pipeline. The company’s focus is gas compression, where it offers a range of applications and gas inlet streams, from low-horsepower/low-pressure applications such as a coal seam gas and solution gas vapor recovery units to high-horsepower, centralized field, or processing plant compression. Enerflex operates three business segments: the USA, Rest of World, and Canada.