Ensign Energy Services (TSE:ESI) Share Price Passes Above 200 Day Moving Average - Here's Why

Key Points

• Technical breakout: Ensign Energy's shares climbed above their 200-day moving average (C$2.82), trading as high as C$3.74 and last at C$3.72 on volume of 220,032, signaling a bullish technical move.
• Analysts have trimmed targets and show a consensus Hold rating with an average price target of C$2.90, which is below the current share price and suggests cautious sentiment.
• Weak fundamentals: the company reported negative EPS (C($0.07) last quarter), a negative net margin (-2.37%) and ROE (-2.94%), a negative P/E (-14.88), and a high debt-to-equity ratio (75.33) despite modest liquidity (current ratio ~1.34).

Ensign Energy Services Inc. (TSE:ESI - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$2.82 and traded as high as C$3.74. Ensign Energy Services shares last traded at C$3.72, with a volume of 220,032 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ESI shares. ATB Cormark Capital Markets dropped their target price on Ensign Energy Services from C$3.25 to C$3.00 and set a "sector perform" rating on the stock in a research report on Friday, December 19th. BMO Capital Markets cut Ensign Energy Services from an "outperform" rating to a "hold" rating and set a C$3.50 price objective on the stock. in a report on Monday, December 15th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of C$2.90.

Ensign Energy Services Stock Performance

The firm has a 50-day simple moving average of C$3.39 and a two-hundred day simple moving average of C$2.82. The company has a debt-to-equity ratio of 75.33, a quick ratio of 1.30 and a current ratio of 1.34. The company has a market capitalization of C$685.38 million, a price-to-earnings ratio of -14.88, a P/E/G ratio of 202.94 and a beta of 1.37.

Ensign Energy Services (TSE:ESI - Get Free Report) last announced its quarterly earnings data on Friday, March 6th. The company reported C($0.07) earnings per share (EPS) for the quarter. The company had revenue of C$418.81 million during the quarter. Ensign Energy Services had a negative net margin of 2.37% and a negative return on equity of 2.94%. On average, sell-side analysts anticipate 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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