Paradigm Capital Upgrades Essential Energy Services to “Buy” (ESN)
Essential Energy Services (TSE:ESN) was upgraded by Paradigm Capital from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm currently has a C$3.50 price objective on the stock, up from their previous price objective of C$3.00. Paradigm Capital’s price target points to a potential upside of 37.25% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity upgraded shares of Essential Energy Services from a “hold” rating to a “buy” rating in a research note on Thursday. Separately, analysts at National Bank Financial cut their price target on shares of Essential Energy Services from C$3.15 to C$2.90 in a research note on Thursday. They now have a “sector perform” rating on the stock. Finally, analysts at TD Securities upgraded shares of Essential Energy Services from a “hold” rating to a “buy” rating in a research note on Thursday. They now have a C$3.00 price target on the stock, down previously from C$3.25. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of C$3.23.
Shares of Essential Energy Services (TSE:ESN) traded up 3.66% on Friday, hitting $2.55. 224,139 shares of the company’s stock traded hands. Essential Energy Services has a 1-year low of $2.28 and a 1-year high of $3.25. The stock’s 50-day moving average is $2.57 and its 200-day moving average is $2.64. The company has a market cap of $321.0 million and a price-to-earnings ratio of 22.36.
Essential Energy Services (TSE:ESN) last announced its earnings results on Friday, August 8th. The company reported ($0.04) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.06) by $0.02. On average, analysts predict that Essential Energy Services will post $0.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 4.71%. The ex-dividend date is Friday, September 26th.
Essential Energy Services Ltd. is a Canada-based company. The Company operates the coil well servicing fleet in the Western Canadian Sedimentary Basin (TSE:ESN).
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