Enerflex (TSE:EFX) Shares Cross Above 200-Day Moving Average – Here’s Why

Enerflex Ltd. (TSE:EFX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$17.84 and traded as high as C$25.37. Enerflex shares last traded at C$25.18, with a volume of 516,341 shares trading hands.

Wall Street Analysts Forecast Growth

EFX has been the topic of several research reports. Desjardins increased their target price on Enerflex from C$14.50 to C$17.50 and gave the stock a “sector perform” rating in a research report on Monday, October 20th. Canadian Imperial Bank of Commerce upped their price target on Enerflex from C$11.50 to C$15.25 and gave the stock a “neutral” rating in a research note on Friday, November 7th. BMO Capital Markets raised their price objective on Enerflex from C$20.00 to C$23.00 in a report on Monday, November 10th. Royal Bank Of Canada lifted their price objective on Enerflex from C$15.00 to C$17.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Finally, ATB Capital set a C$26.00 target price on Enerflex and gave the stock an “outperform” rating in a report on Friday, December 19th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$21.47.

Enerflex Trading Up 1.7%

The stock has a market capitalization of C$3.07 billion, a PE ratio of 22.89 and a beta of 2.41. The company has a current ratio of 1.19, a quick ratio of 1.20 and a debt-to-equity ratio of 81.27. The business’s 50-day moving average is C$22.21 and its two-hundred day moving average is C$17.84.

Enerflex (TSE:EFX) last released its quarterly earnings data on Thursday, November 6th. The company reported C$0.30 EPS for the quarter. Enerflex had a negative return on equity of 8.76% and a negative net margin of 3.72%.The company had revenue of C$1.08 billion for the quarter. On average, analysts predict that Enerflex Ltd. will post 0.734413 earnings per share for the current year.

Enerflex Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, December 1st were issued a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, November 17th. This is an increase from Enerflex’s previous quarterly dividend of $0.04. Enerflex’s dividend payout ratio (DPR) is 9.77%.

Enerflex Company Profile

Enerflex Ltd engineers, designs, manufactures and provides aftermarket support for equipment, systems, and turnkey facilities used to process and move natural gas from the wellhead to the pipeline. The company’s focus is gas compression, where it offers a range of applications and gas inlet streams, from low-horsepower/low-pressure applications such as a coal seam gas and solution gas vapor recovery units to high-horsepower, centralized field, or processing plant compression. Enerflex operates three business segments: the USA, Rest of World, and Canada.