Canaccord Genuity Trims Ensign Energy Services (ESI) Target Price to C$5.75

Ensign Energy Services (TSE:ESI) had its price objective reduced by Canaccord Genuity from C$6.25 to C$5.75 in a research note released on Thursday morning.

A number of other research analysts also recently issued reports on ESI. Cormark reiterated a buy rating and issued a C$8.00 price target on shares of Ensign Energy Services in a report on Friday, November 16th. BMO Capital Markets cut their price target on Ensign Energy Services from C$7.50 to C$6.50 and set a market perform rating on the stock in a report on Wednesday, August 8th. GMP Securities upgraded Ensign Energy Services from a reduce rating to a hold rating and lifted their price target for the company from C$5.00 to C$5.75 in a report on Wednesday, August 8th. Evercore ISI downgraded Ensign Energy Services from an outperform rating to an in-line rating and cut their price target for the company from C$7.00 to C$6.00 in a report on Tuesday, October 16th. Finally, CIBC cut their price target on Ensign Energy Services from C$9.50 to C$8.50 in a report on Tuesday, October 16th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of C$7.00.

Shares of TSE:ESI opened at C$5.25 on Thursday. Ensign Energy Services has a 12-month low of C$4.70 and a 12-month high of C$7.83. The company has a quick ratio of 0.35, a current ratio of 0.48 and a debt-to-equity ratio of 50.15.

Ensign Energy Services (TSE:ESI) last announced its quarterly earnings results on Monday, November 5th. The company reported C($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C($0.24) by C$0.03. The company had revenue of C$288.70 million during the quarter, compared to analysts’ expectations of C$284.00 million. As a group, research analysts anticipate that Ensign Energy Services will post -0.589999939314292 earnings per share for the current year.

In other Ensign Energy Services news, Director Roger Lace bought 5,500 shares of the company’s stock in a transaction that occurred on Thursday, October 11th. The shares were purchased at an average cost of C$5.81 per share, for a total transaction of C$31,955.00.

About Ensign Energy Services

Ensign Energy Services Inc, together with its subsidiaries, provides oilfield services 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 coring and oil sands drilling services to the mining, and oil and natural gas industries.

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