Essential Energy Services Ltd (TSE:ESN) – Analysts at Raymond James Financial reduced their Q3 2016 EPS estimates for shares of Essential Energy Services in a research note issued to investors on Wednesday. Raymond James Financial analyst A. Bradford now expects that the firm will post earnings of ($0.04) per share for the quarter, down from their prior forecast of ($0.02). Raymond James Financial has a “Strong-Buy” rating and a $1.35 price objective on the stock. Raymond James Financial also issued estimates for Essential Energy Services’ Q2 2017 earnings at ($0.03) EPS and Q2 2018 earnings at ($0.01) EPS.

Earnings History and Estimates for Essential Energy Services (TSE:ESN)

A number of other brokerages have also recently commented on ESN. Clarus Securities cut Essential Energy Services from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. TD Securities reiterated a “buy” rating and set a C$0.90 target price on shares of Essential Energy Services in a report on Thursday, August 11th. Finally, AltaCorp Capital cut Essential Energy Services from an “outperform” rating to a “sector perform” rating in a report on Monday, July 11th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Essential Energy Services currently has a consensus rating of “Buy” and a consensus price target of C$0.95.

Shares of Essential Energy Services (TSE:ESN) opened at 0.62 on Monday. The firm’s 50-day moving average price is $0.67 and its 200 day moving average price is $0.65. Essential Energy Services has a one year low of $0.45 and a one year high of $0.78. The stock’s market cap is $78.02 million.

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About Essential Energy Services

Essential Energy Services Ltd. provides oilfield services to oil and gas exploration and production companies in western Canada. The Company operates through two segments: Well Servicing, and Downhole Tools & Rentals. The Well Servicing segment provides well completion, production and workover services throughout the Western Canadian Sedimentary Basin (WCSB).

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