Ensign Energy Services (TSE:ESI) Shares Down 12.4%

Ensign Energy Services Inc. (TSE:ESI) traded down 12.4% during mid-day trading on Monday . The stock traded as low as C$2.18 and last traded at C$2.19. 216,628 shares changed hands during trading, a decline of 7% from the average session volume of 233,673 shares. The stock had previously closed at C$2.50.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada cut their price objective on shares of Ensign Energy Services from C$4.00 to C$3.50 and set an “outperform” rating for the company in a research report on Tuesday. Stifel Nicolaus lifted their price target on shares of Ensign Energy Services from C$2.50 to C$2.75 and gave the company a “hold” rating in a research report on Monday, March 4th. CIBC increased their price objective on 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, BMO Capital Markets lifted their target price on Ensign Energy Services from C$3.00 to C$3.50 and gave the company an “outperform” rating in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$4.11.

Ensign Energy Services Trading Down 3.3 %

The firm has a market capitalization of C$424.28 million, a PE ratio of 10.55, a PEG ratio of 202.94 and a beta of 3.10. The company’s 50-day moving average price is C$2.52 and its 200-day moving average price is C$2.31. The company has a debt-to-equity ratio of 94.00, a quick ratio of 1.30 and a current ratio of 1.04.

Ensign Energy Services (TSE:ESI) last posted its earnings results on Friday, March 1st. The company reported C$0.17 earnings per share for the quarter, topping the consensus estimate of C$0.03 by C$0.14. Ensign Energy Services had a return on equity of 3.21% and a net margin of 2.30%. The firm had revenue of C$430.54 million during the quarter, compared to analysts’ expectations of C$444.50 million. On average, sell-side analysts expect that Ensign Energy Services Inc. will post 0.1998433 earnings per share for the current year.

About Ensign Energy Services

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.