Atb Cap Markets Research Analysts Reduce Earnings Estimates for Ensign Energy Services Inc. (TSE:ESI)

Ensign Energy Services Inc. (TSE:ESI) – Investment analysts at Atb Cap Markets cut their Q1 2024 earnings per share (EPS) estimates for Ensign Energy Services in a research note issued on Sunday, April 7th. Atb Cap Markets analyst W. Syed now forecasts that the company will post earnings per share of $0.01 for the quarter, down from their prior forecast of $0.06. The consensus estimate for Ensign Energy Services’ current full-year earnings is $0.33 per share. Atb Cap Markets also issued estimates for Ensign Energy Services’ Q3 2024 earnings at $0.07 EPS, Q1 2025 earnings at $0.10 EPS, Q4 2025 earnings at $0.21 EPS, Q1 2026 earnings at $0.16 EPS and FY2026 earnings at $0.66 EPS.

Ensign Energy Services (TSE:ESI) last released its earnings results on Friday, March 1st. The company reported C$0.17 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.03 by C$0.14. Ensign Energy Services had a return on equity of 3.21% and a net margin of 2.30%. The business had revenue of C$430.54 million for the quarter, compared to analyst estimates of C$444.50 million.

A number of other analysts have also weighed in on ESI. BMO Capital Markets increased their target price on Ensign Energy Services from C$3.00 to C$3.50 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Royal Bank of Canada increased their target price on Ensign Energy Services from C$3.75 to C$4.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. CIBC reduced their target price on Ensign Energy Services from C$4.00 to C$3.25 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Stifel Nicolaus raised their price target on Ensign Energy Services from C$2.50 to C$2.75 and gave the company a “hold” rating in a research note on Monday, March 4th. Finally, ATB Capital cut their price target on Ensign Energy Services from C$7.00 to C$5.00 and set an “outperform” rating on the stock in a research note on Friday, December 22nd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$4.11.

Ensign Energy Services Stock Performance

ESI stock opened at C$2.64 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.04 and a debt-to-equity ratio of 94.00. The business’s fifty day simple moving average is C$2.41 and its two-hundred day simple moving average is C$2.40. Ensign Energy Services has a twelve month low of C$1.77 and a twelve month high of C$3.78. The firm has a market cap of C$482.80 million, a price-to-earnings ratio of 12.00, a PEG ratio of 202.94 and a beta of 3.06.

Ensign Energy Services Company Profile

Ensign Energy Services Inc, together with its subsidiaries, provides oilfield services to the crude oil and natural gas industries in Canada, the United States, and internationally. The company offers shallow, intermediate, and deep well drilling, as well as specialized drilling services, including horizontal, underbalanced, horizontal re-entry, and slant drilling for steam assisted gravity drainage applications; and equipment and services.