Ensign Energy Services (TSE:ESI) Stock Passes Above 200-Day Moving Average – What’s Next?

Ensign Energy Services Inc. (TSE:ESI)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$3.33 and traded as high as C$4.33. Ensign Energy Services shares last traded at C$4.27, with a volume of 260,437 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Royal Bank Of Canada raised their price objective on Ensign Energy Services from C$3.50 to C$4.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 14th. TD raised their price objective on Ensign Energy Services from C$3.50 to C$3.75 and gave the stock a “hold” rating in a report on Friday, May 8th. Finally, ATB Cormark Capital Markets upgraded Ensign Energy Services from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$4.00 to C$5.00 in a report on Tuesday, May 12th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$3.80.

Ensign Energy Services Trading Up 1.2%

The company has a quick ratio of 1.30, a current ratio of 1.31 and a debt-to-equity ratio of 75.31. The firm has a market cap of C$787.18 million, a price-to-earnings ratio of -14.72, a price-to-earnings-growth ratio of 202.94 and a beta of 1.00. The business has a 50 day moving average price of C$3.88 and a 200-day moving average price of C$3.33.

Ensign Energy Services (TSE:ESI) last posted its earnings results on Thursday, May 7th. The company reported C($0.06) earnings per share (EPS) for the quarter. Ensign Energy Services had a negative net margin of 3.31% and a negative return on equity of 4.13%. The company had revenue of C$418.03 million during the quarter. As a group, research analysts expect that Ensign Energy Services Inc. will post 0.2901354 EPS for the current fiscal year.

Ensign Energy Services Company Profile

Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. We are one of the world’s top land-based drilling and well servicing contractors serving crude oil, natural gas, and geothermal operators. Our premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment and well servicing. Please visit our website at www.ensignenergy.com.