Royal Bank Of Canada Issues Positive Forecast for Ensign Energy Services (TSE:ESI) Stock Price

Key Points

• Royal Bank of Canada raised its target on Ensign Energy Services from C$3.50 to C$4.00 while maintaining a "sector perform" rating, implying roughly a 18% upside from the current price.
• Overall analyst sentiment remains a Hold with an average target of C$3.10; Ensign reported negative EPS of C($0.07) last quarter and trades at C$3.39 with a market cap near C$625 million.

Ensign Energy Services (TSE:ESI - Get Free Report) had its target price lifted by equities researchers at Royal Bank Of Canada from C$3.50 to C$4.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 17.99% from the stock's current price.

Several other equities research analysts have also issued reports on ESI. BMO Capital Markets lowered shares of Ensign Energy Services from an "outperform" rating to a "hold" rating and set a C$3.50 price target on the stock. in a report on Monday, December 15th. ATB Cormark Capital Markets lowered their price target on shares of Ensign Energy Services from C$3.25 to C$3.00 and set a "sector perform" rating on the stock in a report on Friday, December 19th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of C$3.10.

Ensign Energy Services Stock Performance

Ensign Energy Services stock traded down C$0.08 on Tuesday, hitting C$3.39. The company's stock had a trading volume of 203,349 shares, compared to its average volume of 277,835. The firm has a market cap of C$624.58 million, a P/E ratio of -16.14, a price-to-earnings-growth ratio of 202.94 and a beta of 1.13. 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 company has a fifty day moving average price of C$3.55 and a 200-day moving average price of C$2.96. Ensign Energy Services has a one year low of C$1.76 and a one year high of C$3.90.

Ensign Energy Services (TSE:ESI - Get Free Report) last announced its quarterly earnings results on Friday, March 6th. The company reported C($0.07) earnings per share (EPS) for the quarter. The business 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 anticipate that Ensign Energy Services 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.

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