CIBC Increases Ensign Energy Services (TSE:ESI) Price Target to C$3.75

Ensign Energy Services (TSE:ESI) had its price objective raised by stock analysts at CIBC from C$3.25 to C$3.75 in a report released on Monday, BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. CIBC’s price objective would suggest a potential upside of 51.21% from the company’s previous close.

ESI has been the topic of several other research reports. Stifel Nicolaus lifted their price target on shares of Ensign Energy Services from C$2.50 to C$2.75 and gave the company a “hold” rating in a report on Monday, March 4th. BMO Capital Markets lifted their price target on shares of Ensign Energy Services from C$3.00 to C$3.50 and gave the company an “outperform” rating in a report on Monday, March 4th. Finally, Royal Bank of Canada lifted their price target on shares of Ensign Energy Services from C$3.75 to C$4.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$4.18.

Ensign Energy Services Stock Up 4.6 %

Shares of Ensign Energy Services stock opened at C$2.48 on Monday. The company has a debt-to-equity ratio of 94.00, a quick ratio of 1.30 and a current ratio of 1.04. Ensign Energy Services has a 52-week low of C$1.77 and a 52-week high of C$3.78. The stock has a market capitalization of C$453.54 million, a price-to-earnings ratio of 11.27, a P/E/G ratio of 202.94 and a beta of 3.10. The company’s 50 day moving average price is C$2.46 and its 200-day moving average price is C$2.35.

Ensign Energy Services (TSE:ESI) last issued its earnings results on Friday, March 1st. The company reported C$0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.03 by C$0.14. Ensign Energy Services had a net margin of 2.30% and a return on equity of 3.21%. The firm had revenue of C$430.54 million for the quarter, compared to analysts’ expectations of C$444.50 million. Equities research analysts forecast that Ensign Energy Services will post 0.1956027 EPS for the current year.

About Ensign Energy Services

Ensign Energy Services Inc, together with its subsidiaries, provides oilfield services to the crude oil and natural gas industries 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 equipment and services.