Enerflex (TSE:EFX) Upgraded to “Strong-Buy” at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Enerflex (TSE:EFX) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks reports.

Several other research firms also recently commented on EFX. Raymond James Financial raised their price target on shares of Enerflex from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a research note on Friday, October 2nd. National Bank Financial set a C$42.50 price objective on Enerflex and gave the stock an “outperform” rating in a research note on Thursday, June 18th. Acumen Capital raised their price objective on Enerflex from C$42.00 to C$48.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Finally, ATB Cormark Capital Markets lifted their price target on shares of Enerflex from C$47.00 to C$52.00 and gave the stock an “outperform” rating in a report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Enerflex currently has an average rating of “Buy” and an average price target of C$37.69.

Enerflex Stock Performance

TSE:EFX opened at C$39.11 on Tuesday. The company has a debt-to-equity ratio of 51.03, a quick ratio of 1.20 and a current ratio of 1.19. Enerflex has a fifty-two week low of C$14.86 and a fifty-two week high of C$39.95. The firm has a market capitalization of C$4.78 billion, a PE ratio of 88.89 and a beta of 1.87. The stock’s fifty day moving average is C$31.15 and its 200 day moving average is C$32.78.

Enerflex (TSE:EFX) last announced its earnings results on Thursday, August 6th. The company reported C$0.36 earnings per share for the quarter. Enerflex had a net margin of 2.53% and a return on equity of 5.26%. The business had revenue of C$826.90 million for the quarter. On average, sell-side analysts anticipate that Enerflex will post 0.73 earnings per share for the current year.

Enerflex Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, September 2nd were given a $0.0450 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.18 annualized dividend and a yield of 0.5%. This is a boost from Enerflex’s previous quarterly dividend of $0.0425. Enerflex’s payout ratio is currently 27.03%.

About Enerflex

Enerflex is a leading provider of modular natural gas, power technology and treated water solutions, delivering value through disciplined execution and a deliberate approach to where we compete. Our customer focused delivery model supports operational excellence, innovation, and scalability across our global footprint with a focus on creating long-term shareholder value. With approximately 4,400 engineers, manufacturers, technicians, professionals, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future.