Ensign Energy Services (TSE:ESI) Stock Price Breaks Above 200-Day Moving Average – Here’s Why

Ensign Energy Services Inc. (TSE:ESI) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$3.70 and traded as high as C$3.89. Ensign Energy Services shares last traded at C$3.72, with a volume of 215,371 shares.

Wall Street Analysts Forecast Growth

Separately, TD dropped their price objective on Ensign Energy Services from C$3.75 to C$3.50 and set a “hold” rating on the stock in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Ensign Energy Services presently has an average rating of “Hold” and a consensus target price of C$4.00.

Ensign Energy Services Stock Up 4.0%

The firm has a market cap of C$713.35 million, a P/E ratio of -17.59, a price-to-earnings-growth ratio of 202.94 and a beta of 1.58. The stock’s fifty day moving average is C$3.65 and its two-hundred day moving average is C$3.70. The company has a current ratio of 1.24, a quick ratio of 1.30 and a debt-to-equity ratio of 73.88.

Ensign Energy Services (TSE:ESI) last posted its earnings results on Friday, August 7th. The company reported C($0.07) EPS for the quarter. Ensign Energy Services had a negative return on equity of 3.11% and a negative net margin of 2.45%. The business had revenue of C$397.33 million for the quarter. As a group, research analysts anticipate that Ensign Energy Services Inc. will post 0.29 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.