Ensign Energy Services (TSE:ESI) Shares Down 8.9% – Time to Sell?

Ensign Energy Services Inc. (TSE:ESI)’s share price was down 8.9% on Monday . The company traded as low as C$3.59 and last traded at C$3.60. 100,972 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 296,631 shares. The stock had previously closed at C$3.95.

Analyst Upgrades and Downgrades

Several research firms have commented on ESI. TD cut their price objective on Ensign Energy Services from C$3.75 to C$3.50 and set a “hold” rating for the company in a research note on Monday, July 13th. ATB Cormark Capital Markets raised Ensign Energy Services from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from C$4.00 to C$5.00 in a research note on Tuesday, May 12th. Finally, Royal Bank Of Canada boosted their price target on Ensign Energy Services from C$3.50 to C$4.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Ensign Energy Services currently has a consensus rating of “Hold” and a consensus price target of C$3.75.

Ensign Energy Services Stock Performance

The company has a current ratio of 1.31, a quick ratio of 1.30 and a debt-to-equity ratio of 75.31. The stock’s fifty day simple moving average is C$3.73 and its 200 day simple moving average is C$3.60. The company has a market cap of C$641.54 million, a price-to-earnings ratio of -12.00, a P/E/G ratio of 202.94 and a beta of 1.15.

Ensign Energy Services (TSE:ESI) last posted its quarterly earnings results on Thursday, May 7th. The company reported C($0.06) earnings per share (EPS) for the quarter. Ensign Energy Services had a negative net margin of 3.31% and a negative return on equity of 4.13%. The company had revenue of C$418.03 million during the quarter. As a group, analysts anticipate that Ensign Energy Services Inc. will post 0.2901354 earnings per share for the current year.

Ensign Energy Services Company Profile

Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. We are one of the world’s top land-based drilling and well servicing contractors serving crude oil, natural gas, and geothermal operators. Our premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment and well servicing. Please visit our website at www.ensignenergy.com.