Essential Energy Services Ltd (ESN) Expected to Post Q1 2017 Earnings of $0.03 Per Share

Essential Energy Services Ltd (TSE:ESN) – Equities researchers at Raymond James Financial increased their Q1 2017 earnings per share (EPS) estimates for Essential Energy Services in a research note issued to investors on Wednesday. Raymond James Financial analyst A. Bradford now forecasts that the brokerage will earn $0.03 per share for the quarter, up from their previous forecast of $0.02. Raymond James Financial has a “Strong-Buy” rating and a $1.35 price target on the stock. Raymond James Financial also issued estimates for Essential Energy Services’ Q3 2017 earnings at $0.01 EPS, Q4 2017 earnings at $0.03 EPS, FY2017 earnings at $0.04 EPS and Q1 2018 earnings at $0.07 EPS.

ESN has been the topic of several other research reports. TD Securities reduced their target price on shares of Essential Energy Services from C$0.90 to C$0.85 and set a “buy” rating on the stock in a research note on Thursday. AltaCorp Capital lowered shares of Essential Energy Services from an “outperform” rating to a “sector perform” rating in a research note on Monday, July 11th. Finally, Clarus Securities lowered shares of Essential Energy Services from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of C$0.95.

Earnings History and Estimates for Essential Energy Services (TSE:ESN)

Shares of Essential Energy Services (TSE:ESN) traded down 1.61% during mid-day trading on Friday, hitting $0.61. 81,619 shares of the stock were exchanged. The firm’s market cap is $76.76 million. Essential Energy Services has a 1-year low of $0.45 and a 1-year high of $0.78. The company’s 50-day moving average is $0.67 and its 200-day moving average is $0.65.

Essential Energy Services Company Profile

Essential Energy Services Ltd. provides oilfield services to oil and gas exploration and production companies in western Canada. The Company operates through two segments: Well Servicing, and Downhole Tools & Rentals. The Well Servicing segment provides well completion, production and workover services throughout the Western Canadian Sedimentary Basin (WCSB).

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