Ensign Energy Services (TSE:ESI) Given a C$0.65 Price Target by Raymond James Analysts

Raymond James set a C$0.65 target price on Ensign Energy Services (TSE:ESI) in a report issued on Tuesday, BayStreet.CA reports. The brokerage currently has a market perform rating on the stock. Raymond James also issued estimates for Ensign Energy Services’ FY2020 earnings at ($1.21) EPS and FY2021 earnings at ($1.53) EPS.

A number of other brokerages also recently issued reports on ESI. TD Securities downgraded shares of Ensign Energy Services from a buy rating to a speculative buy rating and lowered their price target for the stock from C$5.00 to C$0.90 in a report on Tuesday, March 17th. BMO Capital Markets lowered their price target on shares of Ensign Energy Services from C$3.00 to C$1.00 in a report on Tuesday, March 10th. Canaccord Genuity lowered their price target on shares of Ensign Energy Services from C$4.25 to C$1.00 in a report on Tuesday, March 10th. Stifel Firstegy downgraded shares of Ensign Energy Services from a hold rating to a reduce rating in a report on Thursday, March 19th. Finally, AltaCorp Capital lowered their price target on shares of Ensign Energy Services from C$1.00 to C$0.60 in a report on Tuesday. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Ensign Energy Services currently has an average rating of Hold and a consensus target price of C$1.94.

Shares of TSE ESI opened at C$0.59 on Tuesday. The company’s fifty day moving average price is C$1.62 and its 200 day moving average price is C$2.48. Ensign Energy Services has a 1 year low of C$0.22 and a 1 year high of C$6.45. The company has a market capitalization of $43.92 million and a PE ratio of -0.58. The company has a debt-to-equity ratio of 109.05, a quick ratio of 1.25 and a current ratio of 1.53.

Ensign Energy Services (TSE:ESI) last announced its quarterly earnings results on Monday, March 9th. The company reported C($0.45) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C($0.13) by C($0.32). The company had revenue of C$375.77 million for the quarter, compared to analysts’ expectations of C$380.73 million. On average, equities analysts expect that Ensign Energy Services will post -0.56 EPS for the current year.

In related news, Director Norman Murray Edwards acquired 2,000,000 shares of Ensign Energy Services stock in a transaction on Tuesday, March 17th. The stock was bought at an average cost of C$0.31 per share, for a total transaction of C$620,000.00. Following the completion of the transaction, the director now owns 31,582,085 shares of the company’s stock, valued at approximately C$9,790,446.35. Also, Senior Officer Robert Harold Geddes acquired 45,300 shares of Ensign Energy Services stock in a transaction on Wednesday, February 5th. The shares were bought at an average price of C$2.41 per share, with a total value of C$109,173.00. Following the completion of the transaction, the insider now directly owns 870,442 shares of the company’s stock, valued at approximately C$2,097,765.22. Insiders have acquired 2,255,831 shares of company stock valued at $850,683 over the last 90 days.

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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Analyst Recommendations for Ensign Energy Services (TSE:ESI)

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