Enerflex (TSE:EFX) Trading Down 16.4% Following Analyst Downgrade

Enerflex Ltd. (TSE:EFX)’s share price fell 16.4% during trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from C$13.00 to C$10.00. The company traded as low as C$6.76 and last traded at C$7.01. 729,774 shares traded hands during trading, an increase of 131% from the average session volume of 315,427 shares. The stock had previously closed at C$8.39.

A number of other analysts have also recently commented on the company. Raymond James reduced their price target on Enerflex from C$11.50 to C$11.00 in a research report on Thursday. BMO Capital Markets cut their target price on Enerflex from C$11.00 to C$10.00 in a research report on Wednesday. CIBC increased their target price on Enerflex from C$8.00 to C$9.00 and gave the stock a “neutral” rating in a research report on Monday, April 22nd. ATB Capital increased their target price on Enerflex from C$12.00 to C$13.50 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, National Bankshares upgraded Enerflex from a “sector perform” rating to an “outperform” rating and set a C$10.00 target price for the company in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$10.94.

Enerflex Price Performance

The firm has a market capitalization of C$862.76 million, a P/E ratio of -7.73 and a beta of 1.82. The firm has a 50 day moving average price of C$8.10 and a 200-day moving average price of C$6.91. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 94.38.

Enerflex (TSE:EFX) last posted its quarterly earnings data on Wednesday, February 28th. The company reported C($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.09 by C($0.21). The company had revenue of C$782.21 million during the quarter, compared to the consensus estimate of C$788.63 million. Enerflex had a negative net margin of 3.51% and a negative return on equity of 7.55%. On average, analysts expect that Enerflex Ltd. will post 0.5247718 earnings per share for the current year.

Enerflex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Thursday, July 11th will be issued a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.10 annualized dividend and a dividend yield of 1.44%. Enerflex’s payout ratio is -11.11%.

Enerflex Company Profile

Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and the Eastern Hemisphere. The company provides natural gas compression infrastructure, processing, and treated water infrastructure under contract to oil and natural gas customers; power generation rental solutions; custom and standard compression packages for reciprocating and screw compressor applications; re-engineering, re-configuration, and re-packaging of compressors for various field applications; integrated turnkey power generation, gas compression, processing facilities, natural gas compression, processing, and electric power solutions; after-market mechanical services and parts distribution, as well as maintenance solutions to the oil and natural gas industry, operations, and overhaul services; and equipment supply, parts supply, and general asset management.