Analysts Set Ensign Energy Services Inc (TSE:ESI) Target Price at C$6.30

Shares of Ensign Energy Services Inc (TSE:ESI) have been assigned an average recommendation of “Buy” from the eleven ratings firms that are covering the stock, reports. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$6.30.

A number of equities research analysts recently issued reports on the company. Canaccord Genuity lowered their price objective on Ensign Energy Services from C$6.75 to C$5.50 in a research note on Friday, August 16th. Evercore ISI lowered their price objective on Ensign Energy Services from C$8.00 to C$6.00 in a research note on Friday, August 9th. AltaCorp Capital restated an “outperform” rating on shares of Ensign Energy Services in a research note on Thursday, June 20th. Raymond James set a C$6.00 price objective on Ensign Energy Services and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a C$8.00 price objective on shares of Ensign Energy Services in a research note on Wednesday, July 3rd.

Shares of TSE ESI traded down C$0.05 during mid-day trading on Wednesday, reaching C$2.80. 299,510 shares of the company’s stock were exchanged, compared to its average volume of 373,913. The firm has a market capitalization of $442.94 million and a price-to-earnings ratio of 6.54. Ensign Energy Services has a 52 week low of C$2.67 and a 52 week high of C$6.45. The company has a debt-to-equity ratio of 105.22, a current ratio of 1.72 and a quick ratio of 1.45. The firm has a 50-day moving average price of C$3.15 and a two-hundred day moving average price of C$4.52.

Ensign Energy Services (TSE:ESI) last released its earnings results on Tuesday, August 6th. The company reported C($0.26) EPS for the quarter, missing the Zacks’ consensus estimate of C($0.14) by C($0.12). The firm had revenue of C$377.69 million during the quarter, compared to the consensus estimate of C$421.20 million. As a group, sell-side analysts forecast that Ensign Energy Services will post -0.2919863 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 3rd. Stockholders of record on Thursday, October 3rd were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 17.14%. The ex-dividend date was Wednesday, September 18th. Ensign Energy Services’s payout ratio is 112.15%.

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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