Essential Energy Services (ESN) Price Target Lowered to C$0.40 at Canaccord Genuity

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Essential Energy Services (TSE:ESN) had its price target dropped by investment analysts at Canaccord Genuity from C$0.50 to C$0.40 in a research note issued to investors on Thursday. Canaccord Genuity’s price target would suggest a potential upside of 21.21% from the stock’s previous close.

Separately, Raymond James reiterated an “outperform” rating and issued a C$0.65 target price on shares of Essential Energy Services in a research report on Wednesday.

Shares of TSE ESN traded down C$0.01 during trading on Thursday, hitting C$0.33. The company had a trading volume of 180,800 shares, compared to its average volume of 177,041. Essential Energy Services has a fifty-two week low of C$0.24 and a fifty-two week high of C$0.82. The company has a current ratio of 3.65, a quick ratio of 1.83 and a debt-to-equity ratio of 14.27.

Essential Energy Services (TSE:ESN) last announced its earnings results on Wednesday, November 7th. The company reported C$0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C$0.01 by C$0.01. The company had revenue of C$50.64 million during the quarter, compared to analyst estimates of C$50.00 million. Equities analysts expect that Essential Energy Services will post 0.0599999981250001 EPS for the current fiscal 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.

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