Ensign Energy Services (TSE:ESI) Price Target Cut to C$3.50 by Analysts at TD

Key Points

• TD lowered its price target on Ensign Energy Services to C$3.50 from C$3.75 and kept a hold rating, implying only modest upside from the current share price.
• Other analysts remain mixed: ATB Cormark upgraded the stock to outperform with a higher target, while RBC lifted its target to C$4.00 but maintained a sector perform view.
• The stock rose 1.5% to C$3.43 on Monday, and the company recently reported a quarterly EPS loss of C($0.06) on revenue of C$418.03 million.

Ensign Energy Services (TSE:ESI - Get Free Report) had its target price lowered by equities researchers at TD from C$3.75 to C$3.50 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the stock. TD's price target would suggest a potential upside of 2.04% from the company's current price.

Several other analysts have also recently issued reports on the stock. ATB Cormark Capital Markets raised shares of Ensign Energy Services from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from C$4.00 to C$5.00 in a research note on Tuesday, May 12th. Royal Bank Of Canada increased their target price on 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. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Ensign Energy Services currently has an average rating of "Hold" and an average target price of C$3.75.

Ensign Energy Services Trading Up 1.5%

Shares of ESI traded up C$0.05 during mid-day trading on Monday, hitting C$3.43. The company had a trading volume of 91,577 shares, compared to its average volume of 301,040. The business's 50-day simple moving average is C$3.87 and its 200-day simple moving average is C$3.51. The company has a quick ratio of 1.30, a current ratio of 1.31 and a debt-to-equity ratio of 75.31. Ensign Energy Services has a 1-year low of C$2.00 and a 1-year high of C$4.97. The stock has a market cap of C$632.32 million, a PE ratio of -11.83, a P/E/G ratio of 202.94 and a beta of 1.15.

Ensign Energy Services (TSE:ESI - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported C($0.06) earnings per share (EPS) for the quarter. The company had revenue of C$418.03 million during the quarter. Ensign Energy Services had a negative net margin of 3.31% and a negative return on equity of 4.13%. Sell-side analysts forecast that Ensign Energy Services will post 0.2901354 earnings per share for the current year.

About Ensign Energy Services

Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. We are one of the world's top land-based drilling and well servicing contractors serving crude oil, natural gas, and geothermal operators. Our premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment and well servicing. Please visit our website at www.ensignenergy.com.

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