Ensign Energy Services (TSE:ESI) Sets New 12-Month High – What’s Next?

Shares of Ensign Energy Services Inc. (TSE:ESI) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$4.97 and last traded at C$4.74, with a volume of 814433 shares traded. The stock had previously closed at C$4.45.

Analyst Upgrades and Downgrades

ESI has been the topic of several research reports. TD lifted their price objective on shares of Ensign Energy Services from C$3.50 to C$3.75 and gave the stock a “hold” rating in a research report on Friday, May 8th. Royal Bank Of Canada lifted their price objective on shares of Ensign Energy Services from C$3.50 to C$4.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 14th. Finally, ATB Cormark Capital Markets raised shares of Ensign Energy Services from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from C$4.00 to C$5.00 in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Ensign Energy Services has a consensus rating of “Hold” and an average target price of C$3.80.

Ensign Energy Services Trading Up 6.5%

The firm’s 50-day moving average price is C$3.72 and its 200-day moving average price is C$3.18. The company has a quick ratio of 1.30, a current ratio of 1.31 and a debt-to-equity ratio of 75.31. The company has a market cap of C$873.82 million, a P/E ratio of -16.34, a price-to-earnings-growth ratio of 202.94 and a beta of 1.28.

Ensign Energy Services (TSE:ESI) last posted its quarterly earnings results on Thursday, May 7th. The company reported C($0.06) earnings per share (EPS) for the quarter. Ensign Energy Services had a negative net margin of 3.31% and a negative return on equity of 4.13%. The business had revenue of C$418.03 million during the quarter. As a group, 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 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.