Canaccord Genuity Cuts Ensign Energy Services (ESI) Price Target to C$6.25

Ensign Energy Services (TSE:ESI) had its target price lowered by Canaccord Genuity from C$6.50 to C$6.25 in a research note issued to investors on Tuesday morning.

Other equities analysts also recently issued reports about the company. BMO Capital Markets dropped their target price on Ensign Energy Services from C$7.50 to C$6.50 and set a market perform rating for the company in a research report on Wednesday, August 8th. GMP Securities upgraded Ensign Energy Services from a reduce rating to a hold rating and increased their target price for the company from C$5.00 to C$5.75 in a research report on Wednesday, August 8th. Finally, Evercore downgraded Ensign Energy Services from an outperform rating to an in-line rating and dropped their target price for the company from C$7.00 to C$6.00 in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of C$6.94.

Ensign Energy Services stock opened at C$5.46 on Tuesday. Ensign Energy Services has a 12 month low of C$5.29 and a 12 month high of C$7.83.

Ensign Energy Services (TSE:ESI) last posted its earnings results on Tuesday, August 7th. The company reported C($0.23) EPS for the quarter, beating the consensus estimate of C($0.26) by C$0.03. The firm had revenue of C$263.06 million during the quarter, compared to the consensus estimate of C$244.05 million. Ensign Energy Services had a negative return on equity of 8.73% and a negative net margin of 14.78%.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 4th. Stockholders of record on Thursday, October 4th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, September 20th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 8.79%.

In related news, Director Roger Lace acquired 5,500 shares of the stock in a transaction dated Thursday, October 11th. The stock was bought at an average cost of C$5.81 per share, for a total transaction of C$31,955.00.

Ensign Energy Services Company Profile

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.

Further Reading: Rule of 72

Analyst Recommendations for Ensign Energy Services (TSE:ESI)

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