Enerflex (TSE:EFX) Stock Crosses Below Two Hundred Day Moving Average Following Analyst Downgrade

Key Points

• Enerflex shares fell below their 200-day moving average, trading as low as C$31.05 after RBC cut its price target from C$35 to C$33, though RBC maintained an outperform rating.
• Analyst sentiment remains broadly positive: Enerflex has an average “Buy” rating and a consensus price target of C$41.03, with several firms recently raising their targets.
• Enerflex reduced its quarterly dividend to C$0.035 per share from C$0.045, bringing the annualized payout to C$0.14 and the yield to approximately 0.4%.

Enerflex Ltd. (TSE:EFX - Get Free Report)'s share price passed below its two hundred day moving average during trading on Monday after Royal Bank Of Canada lowered their price target on the stock from C$35.00 to C$33.00. The stock has a two hundred day moving average of C$31.38 and traded as low as C$31.05. Royal Bank Of Canada currently has an outperform rating on the stock. Enerflex shares last traded at C$31.12, with a volume of 1,457,692 shares traded.

Other analysts have also recently issued research reports about the company. Acumen Capital boosted their target price on Enerflex from C$42.00 to C$48.00 and gave the stock a "buy" rating in a report on Friday, October 2nd. ATB Cormark Capital Markets increased their target price on shares of Enerflex from C$52.00 to C$56.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 14th. RBC Dominion Securities raised their price target on shares of Enerflex from C$33.00 to C$35.00 and gave the company an "outperform" rating in a report on Wednesday, October 14th. National Bank Financial raised their price target on shares of Enerflex from C$42.50 to C$45.00 and gave the company an "outperform" rating in a report on Monday, October 26th. Finally, Raymond James Financial lifted their price target on shares of Enerflex from C$49.00 to C$53.00 and gave the company an "outperform" rating in a research report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company's stock. According to MarketBeat, Enerflex presently has an average rating of "Buy" and an average target price of C$41.03.

Enerflex Price Performance

The business's 50 day moving average price is C$32.37 and its 200-day moving average price is C$31.38. The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 49.79. The company has a market cap of C$3.79 billion, a PE ratio of 52.75 and a beta of 1.87.

Enerflex (TSE:EFX - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported C$0.64 earnings per share for the quarter. Enerflex had a net margin of 3.23% and a return on equity of 6.01%. The business had revenue of C$886.92 million during the quarter. As a group, analysts forecast that Enerflex Ltd. will post 0.73 earnings per share for the current year.

Enerflex Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 25th. Shareholders of record on Wednesday, November 25th will be given a $0.0350 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Thursday, November 12th. This is a decrease from Enerflex's previous quarterly dividend of $0.0450. Enerflex's dividend payout ratio is currently 20.72%.

About Enerflex

Enerflex is a leading provider of modular natural gas, power technology and treated water solutions, delivering value through disciplined execution and a deliberate approach to where we compete. Our customer focused delivery model supports operational excellence, innovation, and scalability across our global footprint with a focus on creating long-term shareholder value. With approximately 4,400 engineers, manufacturers, technicians, professionals, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future.

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