Ensign Energy Services (TSE:ESI) Price Target Cut to C$0.60 by Analysts at AltaCorp Capital

Ensign Energy Services (TSE:ESI) had its price objective decreased by AltaCorp Capital from C$1.00 to C$0.60 in a research report sent to investors on Tuesday morning, BayStreet.CA reports.

A number of other research firms have also recently commented on ESI. Stifel Firstegy cut shares of Ensign Energy Services from a hold rating to a reduce rating in a report on Thursday, March 19th. Royal Bank of Canada cut their price target 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 report on Monday, March 16th. TD Securities cut shares of Ensign Energy Services from a buy rating to a speculative buy rating and cut their price target for the company from C$5.00 to C$0.90 in a report on Tuesday, March 17th. BMO Capital Markets cut their price target on shares of Ensign Energy Services from C$3.00 to C$1.00 in a report on Tuesday, March 10th. Finally, Canaccord Genuity cut their price target on shares of Ensign Energy Services from C$4.25 to C$1.00 in a report on Tuesday, March 10th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Ensign Energy Services currently has an average rating of Hold and an average price target of C$1.94.

TSE:ESI opened at C$0.59 on Tuesday. The company’s 50 day moving average price is C$1.62 and its 200-day moving average price is C$2.48. Ensign Energy Services has a 52 week low of C$0.22 and a 52 week high of C$6.45. The company has a quick ratio of 1.25, a current ratio of 1.53 and a debt-to-equity ratio of 109.05. The stock has a market cap of $43.92 million and a price-to-earnings ratio of -0.58.

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

In related news, Director Norman Murray Edwards bought 2,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average price of C$0.31 per share, for a total transaction of C$620,000.00. Following the completion of the acquisition, 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 bought 15,531 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was bought at an average price of C$2.83 per share, for a total transaction of C$43,904.58. Following the acquisition, the insider now directly owns 743,572 shares of the company’s stock, valued at approximately C$2,102,003.69. Insiders purchased 2,255,831 shares of company stock worth $850,683 in 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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