Raymond James Reiterates C$2.50 Price Target for EnWave (CVE:ENW)

Raymond James set a C$2.50 price objective on EnWave (CVE:ENW) in a research note released on Tuesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock. Raymond James also issued estimates for EnWave’s Q1 2020 earnings at $0.00 EPS, Q2 2020 earnings at $0.00 EPS, Q3 2020 earnings at $0.00 EPS, Q4 2020 earnings at $0.01 EPS, FY2020 earnings at $0.01 EPS, Q1 2021 earnings at $0.01 EPS, Q2 2021 earnings at $0.01 EPS, Q3 2021 earnings at $0.02 EPS, Q4 2021 earnings at $0.02 EPS, FY2021 earnings at $0.06 EPS and FY2022 earnings at $0.09 EPS.

Separately, Cormark decreased their target price on shares of EnWave from C$2.60 to C$2.10 in a research report on Monday, December 16th.

Shares of CVE ENW opened at C$1.46 on Tuesday. The firm has a market cap of $162.47 million and a price-to-earnings ratio of -76.84. The stock’s fifty day moving average price is C$1.57 and its two-hundred day moving average price is C$1.89. EnWave has a one year low of C$1.42 and a one year high of C$2.66.

EnWave (CVE:ENW) last posted its earnings results on Tuesday, December 10th. The company reported C($0.01) earnings per share for the quarter. The firm had revenue of C$16.19 million during the quarter, compared to the consensus estimate of C$13.50 million. As a group, research analysts expect that EnWave will post 0.08 EPS for the current year.

EnWave Company Profile

EnWave Corporation licenses, builds, and installs commercial-scale dehydration platforms for applications in the food, pharmaceutical, and industrial sectors to manufacturing companies in Canada. The company offers radiant energy vacuum (REV) dehydration platforms for food industry, such as nutraREV and quantaREV to dehydrate fruits and vegetables, cheese products, yogurt products, meat products, and snacks.

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