Raymond James Reiterates “Outperform” Rating for Essential Energy Services (ESN)

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Raymond James reaffirmed their outperform rating on shares of Essential Energy Services (TSE:ESN) in a research note released on Wednesday. Raymond James currently has a C$0.65 price target on the stock.

Separately, Canaccord Genuity dropped their price target on Essential Energy Services from C$0.60 to C$0.50 in a research report on Thursday, November 22nd.

Shares of TSE ESN traded down C$0.01 during mid-day trading on Wednesday, reaching C$0.34. 177,500 shares of the company’s stock were exchanged, compared to its average volume of 176,641. The company has a quick ratio of 1.83, a current ratio of 3.65 and a debt-to-equity ratio of 14.27. Essential Energy Services has a twelve month low of C$0.24 and a twelve month high of C$0.82.

Essential Energy Services (TSE:ESN) last released its quarterly earnings results on Wednesday, November 7th. The company reported C$0.02 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.01 by C$0.01. The business had revenue of C$50.64 million for the quarter, compared to analyst estimates of C$50.00 million. On average, equities research analysts forecast that Essential Energy Services will post 0.0599999981250001 EPS for the current year.

Essential Energy Services Company Profile

Essential Energy Services Ltd., together with its subsidiaries, provides oilfield services to oil and gas exploration and production companies primarily in western Canada. The company operates through two segments, Essential Coil Well Service (ECWS) and Tryton Tool Services (Tryton). The ECWS segment offers well completion, and production and workover services through its fleet of coil tubing rigs, fluid and nitrogen pumpers, and ancillary equipment.

Further Reading: Back-End Load

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