Enerflex (TSE:EFX) Share Price Crosses Below 200-Day Moving Average Following Analyst Downgrade

Enerflex Ltd. (TSE:EFX)’s stock price passed below its two hundred day moving average during trading on Monday after Royal Bank Of Canada lowered their price target on the stock from C$35.00 to C$33.00. The stock has a two hundred day moving average of C$31.38 and traded as low as C$31.05. Royal Bank Of Canada currently has an outperform rating on the stock. Enerflex shares last traded at C$31.12, with a volume of 1,457,692 shares traded.

EFX has been the subject of a number of other research reports. RBC Dominion Securities raised their price objective on Enerflex from C$33.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, October 14th. Raymond James Financial upped their target price on Enerflex from C$49.00 to C$53.00 and gave the company an “outperform” rating in a research report on Wednesday, October 14th. National Bank Financial upped their target price on Enerflex from C$42.50 to C$45.00 and gave the company an “outperform” rating in a research report on Monday, October 26th. Canadian Imperial Bank of Commerce upgraded Enerflex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 13th. Finally, Acumen Capital raised 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. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$41.03.

Enerflex Stock Down 5.8%

The firm has a market capitalization of C$3.79 billion, a price-to-earnings ratio of 52.75 and a beta of 1.87. The stock has a 50 day moving average of C$32.37 and a 200 day moving average of C$31.38. The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 49.79.

Enerflex (TSE:EFX) last announced its quarterly earnings data on Thursday, October 29th. The company reported C$0.64 earnings per share for the quarter. Enerflex had a return on equity of 6.01% and a net margin of 3.23%. The firm had revenue of C$886.92 million during the quarter. As a group, analysts expect that Enerflex Ltd. will post 0.73 earnings per share for the current fiscal year.

Enerflex Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Wednesday, November 25th will be given a $0.0350 dividend. This represents a $0.14 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Thursday, November 12th. This is a negative change from Enerflex’s previous quarterly dividend of $0.0450. Enerflex’s payout ratio is 20.72%.

About Enerflex

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.