Ensign Energy Services (TSE:ESI) Stock Price Down 11.8% – Here’s What Happened

Ensign Energy Services Inc. (TSE:ESI) dropped 11.8% during mid-day trading on Thursday . The stock traded as low as C$3.34 and last traded at C$3.43. Approximately 297,447 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 289,172 shares. The stock had previously closed at C$3.89.

Analyst Ratings Changes

Separately, Royal Bank Of Canada raised their price target on shares of Ensign Energy Services from C$3.50 to C$4.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 14th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Ensign Energy Services currently has a consensus rating of “Hold” and an average target price of C$3.31.

Ensign Energy Services Stock Performance

The company’s 50-day moving average price is C$3.60 and its 200 day moving average price is C$3.07. The company has a debt-to-equity ratio of 75.33, a quick ratio of 1.30 and a current ratio of 1.34. The stock has a market capitalization of C$683.54 million, a PE ratio of -17.67, a PEG ratio of 202.94 and a beta of 1.28.

Ensign Energy Services (TSE:ESI) last posted its earnings results on Thursday, May 7th. The company reported C($0.06) EPS for the quarter. Ensign Energy Services had a negative return on equity of 2.94% and a negative net margin of 2.37%.The company had revenue of C$418.03 million during the quarter. On average, equities research analysts expect that Ensign Energy Services Inc. will post 0.2901354 earnings per share for the current fiscal year.

About Ensign Energy Services

Ensign Energy Services Inc offers services in drilling and well servicing, oil sands coring, directional drilling, underbalanced and managed pressure drilling, equipment rentals, transportation, wireline services, and production testing services. Ensign produces enhanced drilling with the help of its proprietary automated drilling rigs. The automated drilling rigs are built for improved safety and a reduced environmental footprint. Most of the company’s revenue is derived from the United States and Canada.