Ensign Energy Services (TSE:ESI) Reaches New 1-Year High on Analyst Upgrade

Key Points

• Ensign Energy Services hit a new 52-week high after TD lifted its price target to C$3.75 from C$3.50, though the brokerage kept a hold rating.
• Royal Bank of Canada also raised its target, increasing it to C$4.00 and maintaining a sector perform view. Overall, analysts still rate the stock a consensus Hold with an average target price of C$3.40.
• The company reported a quarterly loss of C($0.06) EPS on revenue of C$418.03 million, while shares traded as high as C$4.10 and closed near C$4.09.

Ensign Energy Services Inc. (TSE:ESI - Get Free Report) reached a new 52-week high during trading on Monday after TD raised their price target on the stock from C$3.50 to C$3.75. TD currently has a hold rating on the stock. Ensign Energy Services traded as high as C$4.10 and last traded at C$4.09, with a volume of 211778 shares trading hands. The stock had previously closed at C$3.84.

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

Ensign Energy Services Stock Performance

The company has a quick ratio of 1.30, a current ratio of 1.31 and a debt-to-equity ratio of 75.31. The stock has a market cap of C$738.81 million, a price-to-earnings ratio of -19.10, a price-to-earnings-growth ratio of 202.94 and a beta of 1.28. The company's 50-day simple moving average is C$3.61 and its 200-day simple moving average is C$3.08.

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