Ensign Energy Services (TSE:ESI) Stock Price Down 11.8% - Here's What Happened

Key Points

• Shares plunged 11.8% on Thursday, trading as low as C$3.34 and last at C$3.43, with ~297,447 shares changing hands—slightly above average volume.
• Royal Bank of Canada raised its price target to C$4.00 and gave a "sector perform" rating, while consensus from three analysts is a Hold with an average target of C$3.31.
• The company reported a loss of C($0.06) EPS on C$418.03M revenue, a negative net margin (-2.37%) and modest liquidity (quick ratio 1.30), highlighting ongoing profitability pressure.

Ensign Energy Services Inc. (TSE:ESI - Get Free Report) fell 11.8% on Thursday . The stock traded as low as C$3.34 and last traded at C$3.43. 297,447 shares changed hands during trading, an increase of 3% from the average session volume of 289,172 shares. The stock had previously closed at C$3.89.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada upped 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 equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of C$3.31.

Ensign Energy Services Trading Down 4.6%

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 50-day moving average price is C$3.60 and its 200 day moving average price is C$3.07. The company has a market capitalization of C$683.54 million, a P/E ratio of -17.67, a P/E/G ratio of 202.94 and a beta of 1.28.

Ensign Energy Services (TSE:ESI - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported C($0.06) EPS for the quarter. The business had revenue of C$418.03 million for the quarter. Ensign Energy Services had a negative return on equity of 2.94% and a negative net margin of 2.37%. As a group, equities research analysts predict that Ensign Energy Services Inc. will post 0.2901354 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.