Cormark Equities Analysts Cut Earnings Estimates for Essential Energy Services Ltd (ESN)
Essential Energy Services Ltd (TSE:ESN) – Research analysts at Cormark dropped their FY2016 earnings per share estimates for shares of Essential Energy Services in a research note issued to investors on Wednesday. Cormark analyst J. Zhang now forecasts that the brokerage will post earnings of ($0.99) per share for the year, down from their prior estimate of ($0.54). Cormark also issued estimates for Essential Energy Services’ Q4 2016 earnings at ($0.02) EPS, FY2017 earnings at ($0.04) EPS and FY2018 earnings at $0.01 EPS.
Several other brokerages have also recently weighed in 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 restated a “buy” rating and set a C$0.90 target price on shares of Essential Energy Services in a report on Thursday, August 11th. AltaCorp Capital cut Essential Energy Services from an “outperform” rating to a “sector perform” rating in a report on Monday, July 11th. Finally, Raymond James Financial Inc. dropped their target price on Essential Energy Services from C$1.40 to C$1.35 and set a “strong-buy” rating for the company in a report on Thursday. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of C$0.95.
Shares of Essential Energy Services (TSE:ESN) traded down 1.61% during midday trading on Friday, reaching $0.61. The company’s stock had a trading volume of 80,619 shares. The company’s market capitalization is $76.76 million. The company’s 50-day moving average price is $0.67 and its 200 day moving average price is $0.65. Essential Energy Services has a 12-month low of $0.45 and a 12-month high of $0.78.
Essential Energy Services Company Profile
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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