Enerflex (TSE:EFX) Stock Price Breaks Above 200-Day Moving Average - What's Next?

Key Points

• Enerflex shares broke above their 200-day moving average, reaching C$33.50 before closing at C$33.36, compared with the average of C$32.31.
• Analyst sentiment is broadly positive: six analysts rate the stock Buy and two rate it Hold, producing a “Moderate Buy” consensus and an average price target of C$35.66.
• Enerflex reported quarterly EPS of C$0.36 on C$826.9 million in revenue and raised its quarterly dividend to C$0.045 per share, equivalent to a 0.5% annual yield.

Enerflex Ltd. (TSE:EFX - Get Free Report) crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$32.31 and traded as high as C$33.50. Enerflex shares last traded at C$33.36, with a volume of 611,358 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. National Bank Financial set a C$42.50 target price on Enerflex and gave the company an "outperform" rating in a research note on Thursday, June 18th. Raymond James Financial increased their price target on Enerflex from C$47.00 to C$48.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Finally, ATB Cormark Capital Markets lifted their price objective on Enerflex from C$46.00 to C$47.00 and gave the stock an "outperform" rating in a report on Friday, July 10th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$35.66.

Enerflex Price Performance

The firm has a market capitalization of C$4.07 billion, a PE ratio of 75.82 and a beta of 2.04. The company has a debt-to-equity ratio of 51.03, a quick ratio of 1.20 and a current ratio of 1.19. The business's 50 day moving average is C$30.49 and its two-hundred day moving average is C$32.31.

Enerflex (TSE:EFX - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported C$0.36 earnings per share (EPS) for the quarter. The business had revenue of C$826.90 million for the quarter. Enerflex had a net margin of 2.53% and a return on equity of 5.26%. Equities research analysts anticipate that Enerflex Ltd. will post 0.734413 earnings per share for the current fiscal year.

Enerflex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, September 2nd were paid a dividend of $0.0450 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, August 19th. This is a positive change from Enerflex's previous quarterly dividend of $0.0425. Enerflex's dividend payout ratio is presently 27.03%.

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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