Atb Cap Markets Comments on Ensign Energy Services Inc.’s Q3 2024 Earnings (TSE:ESI)

Ensign Energy Services Inc. (TSE:ESI) – Equities researchers at Atb Cap Markets reduced their Q3 2024 earnings per share estimates for shares of Ensign Energy Services in a note issued to investors on Monday, May 6th. Atb Cap Markets analyst W. Syed now anticipates that the company will earn $0.04 per share for the quarter, down from their prior forecast of $0.07. The consensus estimate for Ensign Energy Services’ current full-year earnings is $0.20 per share.

Ensign Energy Services (TSE:ESI) last announced its quarterly earnings results on Friday, March 1st. The company reported C$0.17 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.03 by C$0.14. The business had revenue of C$430.54 million during the quarter, compared to analysts’ expectations of C$444.50 million. Ensign Energy Services had a return on equity of 3.21% and a net margin of 2.30%.

Several other brokerages also recently issued reports on ESI. BMO Capital Markets lifted their price objective on Ensign Energy Services from C$3.00 to C$3.50 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Stifel Nicolaus lifted their price objective on Ensign Energy Services from C$2.50 to C$2.75 and gave the stock a “hold” rating in a report on Monday, March 4th. CIBC raised their price target on shares of Ensign Energy Services from C$3.25 to C$3.75 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. Finally, Royal Bank of Canada cut their price target on shares of Ensign Energy Services from C$4.00 to C$3.50 and set an “outperform” rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$4.11.

Ensign Energy Services Stock Performance

Shares of ESI opened at C$2.32 on Wednesday. Ensign Energy Services has a 12-month low of C$1.77 and a 12-month high of C$3.78. The stock has a market cap of C$424.28 million, a P/E ratio of 10.55, a PEG ratio of 202.94 and a beta of 3.10. The company has a current ratio of 1.04, a quick ratio of 1.30 and a debt-to-equity ratio of 94.00. The company has a 50-day moving average of C$2.52 and a two-hundred day moving average of C$2.31.

Ensign Energy Services Company Profile

Ensign Energy Services Inc, together with its subsidiaries, provides oilfield services to the crude oil and natural gas industries in Canada, the United States, and internationally. The company offers shallow, intermediate, and deep well drilling, as well as specialized drilling services, including horizontal, underbalanced, horizontal re-entry, and slant drilling for steam assisted gravity drainage applications; and equipment and services.