Essential Energy Services (ESN) Price Target Lowered to C$0.40 at Canaccord Genuity

Essential Energy Services (TSE:ESN) had its price objective decreased by Canaccord Genuity from C$0.50 to C$0.40 in a research note issued to investors on Thursday.

Separately, Raymond James reaffirmed an outperform rating and set a C$0.65 target price on shares of Essential Energy Services in a research note on Wednesday.

TSE ESN traded up C$0.01 during trading hours on Thursday, hitting C$0.33. 87,750 shares of the company’s stock were exchanged, compared to its average volume of 167,219. Essential Energy Services has a 1-year low of C$0.24 and a 1-year high of C$0.82. The company has a quick ratio of 1.83, a current ratio of 3.65 and a debt-to-equity ratio of 14.27.

Essential Energy Services (TSE:ESN) last released its earnings results on Wednesday, November 7th. The company reported C$0.02 EPS for the quarter, topping the consensus estimate of C$0.01 by C$0.01. The business had revenue of C$50.64 million for the quarter, compared to analyst estimates of C$50.00 million. On average, equities analysts predict that Essential Energy Services will post 0.0599999981250001 EPS for the current year.

About Essential Energy Services

Essential Energy Services Ltd., together with its subsidiaries, provides oilfield services to oil and gas exploration and production companies primarily in western Canada. The company operates through two segments, Essential Coil Well Service (ECWS) and Tryton Tool Services (Tryton). The ECWS segment offers well completion, and production and workover services through its fleet of coil tubing rigs, fluid and nitrogen pumpers, and ancillary equipment.

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