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

Ensign Energy Services (TSE:ESI – Get Free Report) had its price objective lifted by equities researchers at Royal Bank Of Canada from C$3.50 to C$4.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 17.99% from the stock’s current price.

Several other research analysts also recently issued reports on ESI. ATB Cormark Capital Markets reduced 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 research report on Friday, December 19th. BMO Capital Markets downgraded 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 research report on Monday, December 15th. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, Ensign Energy Services has an average rating of “Hold” and a consensus price target of C$3.10.

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Ensign Energy Services Price Performance

TSE ESI traded down C$0.08 on Tuesday, hitting C$3.39. 203,349 shares of the company were exchanged, compared to its average volume of 277,835. The firm has a 50 day moving average of C$3.55 and a two-hundred day moving average of C$2.96. The company has a market cap of C$624.58 million, a P/E ratio of -16.14, a P/E/G ratio of 202.94 and a beta of 1.13. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 75.33. Ensign Energy Services has a 1-year low of C$1.76 and a 1-year high of C$3.90.

Ensign Energy Services (TSE:ESI – Get Free Report) last issued its quarterly earnings results on Friday, March 6th. The company reported C($0.07) earnings per share (EPS) for the quarter. The company had revenue of C$418.81 million for the quarter. Ensign Energy Services had a negative return on equity of 2.94% and a negative net margin of 2.37%. On average, equities analysts predict that Ensign Energy Services will post 0.2901354 EPS for the current year.

About Ensign Energy Services

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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.

Further Reading

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