Ensign Energy Services (TSE:ESI) had its target price lowered by analysts at CIBC from C$1.50 to C$0.75 in a report released on Wednesday, BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 27.12% from the stock’s current price.
A number of other equities analysts have also recently commented on the stock. Raymond James set a C$0.65 target price on shares of Ensign Energy Services and gave the company a “market perform” rating in a report on Tuesday. Canaccord Genuity lowered their price objective on shares of Ensign Energy Services from C$4.25 to C$1.00 in a research report on Tuesday, March 10th. Royal Bank of Canada lowered their price objective on shares of Ensign Energy Services from C$1.50 to C$0.60 and set a “sector perform” rating on the stock in a research report on Monday, March 16th. BMO Capital Markets lowered their price objective on shares of Ensign Energy Services from C$3.00 to C$1.00 in a research report on Tuesday, March 10th. Finally, TD Securities lowered shares of Ensign Energy Services from a “buy” rating to a “speculative buy” rating and lowered their price objective for the company from C$5.00 to C$0.90 in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Ensign Energy Services currently has an average rating of “Hold” and an average target price of C$1.94.
Shares of Ensign Energy Services stock opened at C$0.59 on Wednesday. The firm’s fifty day simple moving average is C$1.62 and its 200-day simple moving average is C$2.48. The stock has a market capitalization of $43.92 million and a price-to-earnings ratio of -0.58. Ensign Energy Services has a 12 month low of C$0.22 and a 12 month high of C$6.45. The company has a debt-to-equity ratio of 109.05, a current ratio of 1.53 and a quick ratio of 1.25.
Ensign Energy Services (TSE:ESI) last announced its earnings results on Monday, March 9th. The company reported C($0.45) EPS for the quarter, missing analysts’ consensus estimates of C($0.13) by C($0.32). The firm had revenue of C$375.77 million for the quarter, compared to analyst estimates of C$380.73 million. Analysts anticipate that Ensign Energy Services will post -0.56 earnings per share for the current year.
In other news, Director Norman Murray Edwards acquired 2,000,000 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were purchased at an average cost of C$0.31 per share, for a total transaction of C$620,000.00. Following the transaction, the director now directly owns 31,582,085 shares in the company, valued at approximately C$9,790,446.35. Also, Senior Officer Robert Harold Geddes acquired 45,300 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was purchased at an average price of C$2.41 per share, for a total transaction of C$109,173.00. Following the completion of the transaction, the insider now owns 870,442 shares in the company, valued at C$2,097,765.22. Over the last quarter, insiders purchased 2,255,831 shares of company stock worth $850,683.
Ensign Energy Services Company Profile
Ensign Energy Services Inc, together with its subsidiaries, provides oilfield services 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 coring and oil sands drilling services to the mining, and oil and natural gas industries.
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