Enerflex (TSE:EFX) Shares Up 14.4% – Here’s Why

Enerflex Ltd. (TSE:EFX)’s stock price shot up 14.4% during trading on Tuesday. The company traded as high as C$39.38 and last traded at C$39.21. 470,971 shares were traded during trading, a decline of 36% from the average session volume of 730,977 shares. The stock had previously closed at C$34.26.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. ATB Cormark Capital Markets lifted their target price on shares of Enerflex from C$47.00 to C$52.00 and gave the company an “outperform” rating in a research report on Friday, October 2nd. National Bank Financial set a C$42.50 target price on shares of Enerflex and gave the company an “outperform” rating in a research note on Thursday, June 18th. Acumen Capital increased their price target on shares of Enerflex from C$42.00 to C$48.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Finally, Raymond James Financial increased their price target on shares of Enerflex from C$48.00 to C$49.00 and gave the stock an “outperform” rating in a research report on Friday, October 2nd. Seven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$37.69.

Enerflex Price Performance

The company’s 50 day moving average price is C$30.99 and its 200 day moving average price is C$32.72. The company has a debt-to-equity ratio of 51.03, a quick ratio of 1.20 and a current ratio of 1.19. The company has a market cap of C$4.79 billion, a price-to-earnings ratio of 89.11 and a beta of 1.87.

Enerflex (TSE:EFX) last announced its earnings results on Thursday, August 6th. The company reported C$0.36 earnings per share (EPS) for the quarter. The business had revenue of C$826.90 million during the quarter. Enerflex had a net margin of 2.53% and a return on equity of 5.26%. On average, equities research analysts predict that Enerflex Ltd. will post 0.73 earnings per share for the current fiscal year.

Enerflex Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, September 2nd were given a $0.0450 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 0.5%. This is a boost from Enerflex’s previous quarterly dividend of $0.0425. The ex-dividend date was Wednesday, August 19th. Enerflex’s dividend payout ratio (DPR) is presently 27.03%.

Enerflex Company Profile

Enerflex is a leading provider of modular natural gas, power technology and treated water solutions, delivering value through disciplined execution and a deliberate approach to where we compete. Our customer focused delivery model supports operational excellence, innovation, and scalability across our global footprint with a focus on creating long-term shareholder value. With approximately 4,400 engineers, manufacturers, technicians, professionals, and innovators, Enerflex is bound together by a shared vision: Transforming Energy for a Sustainable Future.