Raymond James Equities Analysts Increase Earnings Estimates for Ensign Energy Services Inc. (TSE:ESI)

Ensign Energy Services Inc. (TSE:ESI) – Equities researchers at Raymond James increased their FY2021 earnings per share estimates for shares of Ensign Energy Services in a note issued to investors on Monday, May 10th. Raymond James analyst A. Bradford now expects that the company will post earnings of ($0.90) per share for the year, up from their previous forecast of ($1.30). Raymond James has a “Market Perform” rating and a $1.30 price target on the stock. Raymond James also issued estimates for Ensign Energy Services’ FY2022 earnings at ($0.57) EPS.

Ensign Energy Services (TSE:ESI) last issued its quarterly earnings data on Friday, March 5th. The company reported C($0.12) EPS for the quarter, topping analysts’ consensus estimates of C($0.39) by C$0.27. The company had revenue of C$201.27 million for the quarter, compared to the consensus estimate of C$197.30 million.

A number of other analysts have also commented on the company. ATB Capital decreased their price objective on Ensign Energy Services from C$3.25 to C$3.00 and set a “na” rating for the company in a report on Tuesday. BMO Capital Markets decreased their price objective on Ensign Energy Services from C$1.75 to C$1.40 and set a “na” rating for the company in a report on Tuesday. Royal Bank of Canada boosted their price objective on Ensign Energy Services from C$1.50 to C$1.75 and gave the stock a “sector perform” rating in a report on Monday, March 8th. CIBC restated a “neutral” rating and issued a C$1.40 target price on shares of Ensign Energy Services in a research note on Tuesday, March 30th. Finally, TD Securities cut their target price on Ensign Energy Services from C$1.50 to C$1.40 and set a “hold” rating on the stock in a research note on Monday, May 10th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of C$1.34.

Shares of ESI opened at C$1.04 on Thursday. The company has a debt-to-equity ratio of 102.12, a quick ratio of 1.28 and a current ratio of 1.61. The stock has a 50 day moving average price of C$1.16 and a two-hundred day moving average price of C$1.06. The firm has a market capitalization of C$169.64 million and a P/E ratio of -2.12. Ensign Energy Services has a 52 week low of C$0.45 and a 52 week high of C$1.60.

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 other services.

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