Ensign Energy Services (TSE:ESI) Reaches New 12-Month High - Should You Buy?

Key Points

• Ensign Energy Services hit a new 52-week high, trading as high as C$3.90 (last C$3.82) on volume of 322,112 shares, and Royal Bank of Canada raised its price target to C$4.00 while assigning a "sector perform" rating.
• Despite the rally, the MarketBeat consensus remains a Hold with an average price target of C$3.31, which is below the recent intraday high.
• Company fundamentals show a recent quarterly loss (C($0.07) EPS), negative net margin and return on equity, a market cap of about C$709M and a high debt-to-equity ratio (~75), though analysts forecast roughly C$0.29 EPS for the fiscal year.

Ensign Energy Services Inc. (TSE:ESI - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as C$3.90 and last traded at C$3.82, with a volume of 322112 shares trading hands. The stock had previously closed at C$3.83.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada lifted 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 report on Tuesday, April 14th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Ensign Energy Services currently has a consensus rating of "Hold" and a consensus price target of C$3.31.

Ensign Energy Services Stock Performance

The stock has a market capitalization of C$709.34 million, a PE ratio of -18.33, a price-to-earnings-growth ratio of 202.94 and a beta of 1.13. 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 stock has a fifty day moving average of C$3.57 and a 200-day moving average of C$3.01.

Ensign Energy Services (TSE:ESI - Get Free Report) last posted its quarterly earnings results on Friday, March 6th. The company reported C($0.07) 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 company had revenue of C$418.81 million during the quarter. Equities analysts anticipate 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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