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

Ensign Energy Services Inc. (TSE:ESI)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$2.47 and traded as high as C$3.29. Ensign Energy Services shares last traded at C$3.20, with a volume of 118,877 shares traded.

Wall Street Analysts Forecast Growth

ESI has been the topic of a number of analyst reports. CIBC boosted their price objective on Ensign Energy Services from C$2.50 to C$2.75 in a research note on Wednesday, October 15th. ATB Capital lowered their price objective on Ensign Energy Services from C$3.25 to C$3.00 and set a “sector perform” rating on the stock in a research report on Friday, December 19th. BMO Capital Markets cut Ensign Energy Services from an “outperform” rating to a “hold” rating and set a C$3.50 target price for the company. in a research report on Monday, December 15th. Atb Cap Markets upgraded shares of Ensign Energy Services to a “hold” rating in a research report on Thursday, October 30th. Finally, Royal Bank Of Canada lowered shares of Ensign Energy Services from a “moderate buy” rating to a “hold” rating and upped their target price for the stock from C$2.50 to C$3.00 in a research report on Thursday, October 9th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$2.90.

Ensign Energy Services Price Performance

The stock has a market capitalization of C$586.45 million, a PE ratio of -12.80, a P/E/G ratio of 202.94 and a beta of 1.52. The company has a debt-to-equity ratio of 84.02, a current ratio of 0.98 and a quick ratio of 1.30. The firm’s 50 day simple moving average is C$2.71 and its 200 day simple moving average is C$2.47.

Ensign Energy Services (TSE:ESI) last released its earnings results on Friday, November 7th. The company reported C($0.02) EPS for the quarter. The business had revenue of C$411.16 million for the quarter. Ensign Energy Services had a net margin of 1.86% and a return on equity of 2.37%. As a group, equities analysts forecast that Ensign Energy Services Inc. will post 0.2901354 EPS for the current fiscal year.

Ensign Energy Services Company Profile

Ensign Energy Services Inc offers services in drilling and well servicing, oil sands coring, directional drilling, underbalanced and managed pressure drilling, equipment rentals, transportation, wireline services, and production testing services. Ensign produces enhanced drilling with the help of its proprietary automated drilling rigs. The automated drilling rigs are built for improved safety and a reduced environmental footprint. Most of the company’s revenue is derived from the United States and Canada.