Ensign Energy Services (TSE:ESI) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Ensign Energy Services Inc. (TSE:ESI)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$3.68 and traded as high as C$3.90. Ensign Energy Services shares last traded at C$3.78, with a volume of 248,696 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, TD reduced their price target on shares of Ensign Energy Services from C$3.75 to C$3.50 and set a “hold” rating on the stock in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ensign Energy Services currently has a consensus rating of “Hold” and an average target price of C$3.75.

Ensign Energy Services Stock Performance

The company has a debt-to-equity ratio of 73.88, a current ratio of 1.24 and a quick ratio of 1.30. The company has a market cap of C$713.35 million, a price-to-earnings ratio of -17.59, a price-to-earnings-growth ratio of 202.94 and a beta of 1.33. The stock has a 50-day moving average price of C$3.57 and a 200 day moving average price of C$3.69.

Ensign Energy Services (TSE:ESI) last posted its earnings results on Friday, August 7th. The company reported C($0.07) earnings per share (EPS) for the quarter. The business had revenue of C$397.33 million for the quarter. Ensign Energy Services had a negative return on equity of 3.11% and a negative net margin of 2.45%. As a group, analysts anticipate that Ensign Energy Services Inc. will post 0.2901354 EPS 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.