Ensign Energy Services (TSE:ESI) Trading Down 8.9% - What's Next?

Key Points

• Ensign Energy Services shares fell 8.9% to C$3.60 in mid-day trading, with volume about 66% below its average.
• Analyst sentiment remains cautious: the stock has an average “Hold” rating and a consensus price target of C$3.75, although ATB Cormark upgraded it to “outperform” with a C$5.00 target.
• The company reported a quarterly loss of C$0.06 per share on C$418.03 million in revenue, alongside a negative net margin and return on equity.

Ensign Energy Services Inc. (TSE:ESI - Get Free Report)'s stock price dropped 8.9% during mid-day trading on Monday . The stock traded as low as C$3.59 and last traded at C$3.60. Approximately 100,972 shares traded hands during trading, a decline of 66% from the average daily volume of 296,631 shares. The stock had previously closed at C$3.95.

Wall Street Analyst Weigh In

A number of research firms recently commented on ESI. Royal Bank Of Canada lifted their target price on shares of 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. ATB Cormark Capital Markets upgraded shares of Ensign Energy Services from a "sector perform" rating to an "outperform" rating and upped their price target for the company from C$4.00 to C$5.00 in a research note on Tuesday, May 12th. Finally, TD decreased their price target on shares of Ensign Energy Services from C$3.75 to C$3.50 and set a "hold" rating for the company in a report on Monday, July 13th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Ensign Energy Services has an average rating of "Hold" and an average target price of C$3.75.

Ensign Energy Services Trading Down 9.4%

The stock has a market cap of C$659.98 million, a PE ratio of -12.34, a PEG ratio of 202.94 and a beta of 1.15. The company's fifty day moving average is C$3.77 and its 200-day moving average is C$3.58. The company has a debt-to-equity ratio of 75.31, a current ratio of 1.31 and a quick ratio of 1.30.

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 company had revenue of C$418.03 million for the quarter. Ensign Energy Services had a negative return on equity of 4.13% and a negative net margin of 3.31%. On average, analysts predict that Ensign Energy Services Inc. will post 0.2901354 earnings per share for the current fiscal year.

Ensign Energy Services Company Profile

Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. We are one of the world's top land-based drilling and well servicing contractors serving crude oil, natural gas, and geothermal operators. Our premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment and well servicing. Please visit our website at www.ensignenergy.com.

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