Ensign Energy Services (TSE:ESI) Trading 6.8% Higher – What’s Next?

Shares of Ensign Energy Services Inc. (TSE:ESI) shot up 6.8% on Thursday . The company traded as high as C$3.61 and last traded at C$3.59. 113,921 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 267,932 shares. The stock had previously closed at C$3.36.

Analyst Ratings Changes

Several brokerages recently issued reports on ESI. BMO Capital Markets downgraded Ensign Energy Services from an “outperform” rating to a “hold” rating and set a C$3.50 price target for the company. in a report on Monday, December 15th. ATB Cormark Capital Markets dropped their price objective on Ensign Energy Services from C$3.25 to C$3.00 and set a “sector perform” rating on the stock in a research note on Friday, December 19th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$2.90.

Ensign Energy Services Stock Performance

The company’s 50-day simple moving average is C$3.50 and its 200 day simple moving average is C$2.89. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 75.33. The stock has a market cap of C$644.85 million, a P/E ratio of -16.67, a PEG ratio of 202.94 and a beta of 1.37.

Ensign Energy Services (TSE:ESI) last released its earnings results on Friday, March 6th. The company reported C($0.07) earnings per share (EPS) for the quarter. The business had revenue of C$418.81 million during the quarter. Ensign Energy Services had a negative net margin of 2.37% and a negative return on equity of 2.94%. As a group, sell-side analysts expect that Ensign Energy Services Inc. will post 0.2901354 EPS for the current fiscal year.

About Ensign Energy Services

Ensign Energy Services Inc offers services in drilling and well servicing, oil sands coring, directional drilling, underbalanced and managed pressure drilling, equipment rentals, transportation, wireline services, and production testing services. Ensign produces enhanced drilling with the help of its proprietary automated drilling rigs. The automated drilling rigs are built for improved safety and a reduced environmental footprint. Most of the company’s revenue is derived from the United States and Canada.