Ensign Energy Services (TSE:ESI) Hits New 52-Week High - Still a Buy?

Key Points

• Share price breakout: Ensign Energy Services hit a new 52-week high, trading as high as C$4.00 (last C$3.99) on Monday with about 137,983 shares traded.
• Analyst view mixed: RBC raised its price target to C$4.00 and rated the stock "sector perform," but the consensus among three analysts remains a "Hold" with an average target of C$3.31.
• Fundamentals still weak: The company reported a C($0.07) EPS last quarter with negative margins and ROE and a negative P/E, and carries a debt-to-equity of 75.33, although analysts forecast a positive EPS for the fiscal year.

Ensign Energy Services Inc. (TSE:ESI - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as C$4.00 and last traded at C$3.99, with a volume of 137983 shares traded. The stock had previously closed at C$3.95.

Wall Street Analyst Weigh In

Separately, Royal Bank Of Canada upped their price target on shares of Ensign Energy Services from C$3.50 to C$4.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 14th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of C$3.31.

Ensign Energy Services Stock Up 0.3%

The stock has a market cap of C$729.60 million, a P/E ratio of -18.86, a price-to-earnings-growth ratio of 202.94 and a beta of 1.28. The firm has a 50 day simple moving average of C$3.58 and a 200-day simple moving average of C$3.05. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 75.33.

Ensign Energy Services (TSE:ESI - Get Free Report) last issued its earnings results on Friday, March 6th. The company reported C($0.07) EPS for the quarter. Ensign Energy Services had a negative return on equity of 2.94% and a negative net margin of 2.37%.The business had revenue of C$418.81 million for the quarter. On average, equities research analysts forecast that Ensign Energy Services Inc. will post 0.2901354 earnings per share for the current fiscal year.

Ensign Energy Services Company Profile

Ensign Energy Services Inc offers services in drilling and well servicing, oil sands coring, directional drilling, underbalanced and managed pressure drilling, equipment rentals, transportation, wireline services, and production testing services. Ensign produces enhanced drilling with the help of its proprietary automated drilling rigs. The automated drilling rigs are built for improved safety and a reduced environmental footprint. Most of the company's revenue is derived from the United States and Canada.

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