Ensign Energy Services (ESI) Cut to “In-Line” at Evercore ISI

Evercore ISI lowered shares of Ensign Energy Services (TSE:ESI) from an outperform rating to an in-line rating in a research note issued to investors on Tuesday. The firm currently has C$6.00 target price on the stock, down from their previous target price of C$7.00.

Other equities research analysts have also issued research reports about the company. CIBC dropped their target price on Ensign Energy Services from C$9.50 to C$8.50 in a research report on Tuesday. Canaccord Genuity decreased their price target on Ensign Energy Services from C$6.50 to C$6.25 in a report on Tuesday. GMP Securities raised Ensign Energy Services from a reduce rating to a hold rating and boosted their price target for the company from C$5.00 to C$5.75 in a report on Wednesday, August 8th. Evercore downgraded Ensign Energy Services from an outperform rating to an in-line rating and decreased their price target for the company from C$7.00 to C$6.00 in a report on Tuesday. Finally, BMO Capital Markets decreased their price target on Ensign Energy Services from C$7.50 to C$6.50 and set a market perform rating for the company in a report on Wednesday, August 8th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of C$6.94.

Shares of TSE ESI opened at C$5.33 on Tuesday. Ensign Energy Services has a 52 week low of C$5.29 and a 52 week high of C$7.83.

Ensign Energy Services (TSE:ESI) last issued its earnings results on Tuesday, August 7th. The company reported C($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of C($0.26) by C$0.03. The firm had revenue of C$263.06 million for the quarter, compared to analyst estimates 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 declared a quarterly dividend, which was paid on Thursday, October 4th. Shareholders of record on Thursday, October 4th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 9.01%. The ex-dividend date was Thursday, September 20th.

In related news, Director Roger Lace purchased 5,500 shares of the firm’s stock in a transaction on Thursday, October 11th. The stock was bought at an average cost of C$5.81 per share, with a total value of C$31,955.00.

About Ensign Energy Services

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.

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Analyst Recommendations for Ensign Energy Services (TSE:ESI)

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