Royal Bank of Canada Lowers Ensign Energy Services (TSE:ESI) Price Target to C$3.50

Ensign Energy Services (TSE:ESI) had its price target reduced by equities research analysts at Royal Bank of Canada from C$4.00 to C$3.50 in a report issued on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 52.17% from the stock’s current price.

ESI has been the topic of a number of other research reports. BMO Capital Markets increased their target price on Ensign Energy Services from C$3.00 to C$3.50 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Stifel Nicolaus lifted their target price 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. Finally, CIBC boosted their target price on shares of Ensign Energy Services from C$3.25 to C$3.75 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$4.11.

Ensign Energy Services Trading Down 0.9 %

Shares of TSE:ESI opened at C$2.30 on Tuesday. The company has a 50-day simple moving average of C$2.52 and a 200 day simple moving average of C$2.31. The company has a market capitalization of C$420.62 million, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 202.94 and a beta of 3.10. 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 has a 52-week low of C$1.77 and a 52-week high of C$3.78.

Ensign Energy Services (TSE:ESI) last released its quarterly earnings data on Friday, March 1st. The company reported C$0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of C$430.54 million during the quarter, compared to analysts’ expectations of C$444.50 million. Sell-side analysts forecast that Ensign Energy Services will post 0.1998433 earnings per share for the current year.

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.