Ensign Energy Services (TSE:ESI) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Price broke above its 200‑day moving average: ESI traded as high as C$3.39 and last at C$3.35, surpassing the 200‑day MA of C$2.99 on volume of about 255,534 shares.
• RBC lifted its price target to C$4.00 while maintaining a "sector perform" rating; nonetheless the consensus remains a "Hold" with an average target of C$3.31.
• Fundamentals still weak but analysts expect a rebound: Ensign reported a quarterly loss (C($0.07)/share), negative margins and ROE, and high debt-to-equity (75.33), though analysts forecast roughly C$0.29 EPS for the current fiscal year.

Ensign Energy Services Inc. (TSE:ESI - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$2.99 and traded as high as C$3.39. Ensign Energy Services shares last traded at C$3.35, with a volume of 255,534 shares traded.

Analyst Ratings Changes

Separately, Royal Bank Of Canada raised their price target on Ensign Energy Services from C$3.50 to C$4.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 14th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Ensign Energy Services presently has an average rating of "Hold" and a consensus price target of C$3.31.

Ensign Energy Services Stock Up 2.1%

The firm has a market capitalization of C$617.21 million, a price-to-earnings ratio of -15.95, a price-to-earnings-growth ratio of 202.94 and a beta of 1.13. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 75.33. The firm has a 50 day moving average price of C$3.56 and a two-hundred day moving average price of C$2.99.

Ensign Energy Services (TSE:ESI - Get Free Report) last released its quarterly earnings data on Friday, March 6th. The company reported C($0.07) earnings per share for the quarter. The firm 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, equities analysts expect that Ensign Energy Services Inc. will post 0.2901354 earnings per share 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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