ACT Energy Technologies (TSE:ACX) Issues Earnings Results

ACT Energy Technologies (TSE:ACX) announced its quarterly earnings results on Friday. The company reported C$0.06 EPS for the quarter, FiscalAI reports. The firm had revenue of C$178.47 million for the quarter.

ACT Energy Technologies Trading Down 0.5%

Shares of TSE ACX opened at C$6.12 on Friday. The firm’s 50-day moving average price is C$6.23 and its 200-day moving average price is C$6.42. ACT Energy Technologies has a 12-month low of C$4.47 and a 12-month high of C$7.74. The stock has a market capitalization of C$235.91 million, a price-to-earnings ratio of 17.00 and a beta of 0.09.

Wall Street Analysts Forecast Growth

Separately, ATB Cormark Capital Markets increased their target price on ACT Energy Technologies from C$9.25 to C$9.50 and gave the company an “outperform” rating in a research report on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, ACT Energy Technologies currently has a consensus rating of “Buy” and a consensus target price of C$9.67.

ACT Energy Technologies Company Profile

ACT Energy Technologies Ltd., headquartered in Calgary, Alberta, operates in Canada under the brand ‘Altitude Energy Partners’, and in the United States under the brands ‘Altitude Energy Partners’, ‘Discovery Downhole Services’, ‘Rime Downhole Technologies’ and ‘Stryker Directional’. ACT’s common shares trade on the Toronto Stock Exchange under the symbol ‘ACX’. ACT provides high-performance directional drilling services and downhole technologies to North American energy companies, delivering tailored solutions that improve drilling efficiency and reduce project costs.