Ensign Energy Services (TSE:ESI) Price Target Raised to C$3.75 at TD

Key Points

• Ensign Energy Services had its price target raised by TD to C$3.75 (from C$3.50) while maintaining a "hold" rating and noting a potential ~4.8% downside; Royal Bank of Canada also boosted its target to C$4.00 and the consensus rating remains "Hold" with an average target of C$3.40.
• Shares jumped 6.2% to C$3.94 on the news, giving the company a market cap of about C$726 million and a 52‑week range of C$1.85–C$4.09; however, the most recent quarter showed EPS of C($0.06) with negative net margin and return on equity.

Ensign Energy Services (TSE:ESI - Get Free Report) had its target price upped by research analysts at TD from C$3.50 to C$3.75 in a report released on Friday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. TD's target price points to a potential downside of 4.82% from the stock's current price.

Separately, Royal Bank Of Canada boosted their price objective on Ensign Energy Services from C$3.50 to C$4.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 14th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of C$3.40.

Ensign Energy Services Stock Up 6.2%

Shares of ESI traded up C$0.23 on Friday, hitting C$3.94. The company's stock had a trading volume of 167,870 shares, compared to its average volume of 303,637. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 75.33. The firm's fifty day moving average price is C$3.61 and its 200-day moving average price is C$3.08. Ensign Energy Services has a fifty-two week low of C$1.85 and a fifty-two week high of C$4.09. The firm has a market capitalization of C$725.92 million, a price-to-earnings ratio of -18.76, a P/E/G ratio of 202.94 and a beta of 1.28.

Ensign Energy Services (TSE:ESI - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported C($0.06) earnings per share (EPS) for the quarter. Ensign Energy Services had a negative net margin of 2.37% and a negative return on equity of 2.94%. The business had revenue of C$418.03 million during the quarter. On average, equities research analysts expect that Ensign Energy Services will post 0.2901354 EPS for the current year.

About Ensign Energy Services

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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