Ensign Energy Services (TSE:ESI) Stock Rating Upgraded by BMO Capital Markets

Ensign Energy Services (TSE:ESI) was upgraded by equities researchers at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued on Monday, BayStreet reports. The brokerage currently has a C$6.00 price objective on the stock, up from their prior price objective of C$4.00. BMO Capital Markets‘s price objective indicates a potential upside of 45.63% from the stock’s current price.

A number of other brokerages have also weighed in on ESI. TD Securities raised Ensign Energy Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. TD upgraded Ensign Energy Services from a “hold” rating to a “buy” rating and increased their target price for the stock from C$3.50 to C$4.75 in a report on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Ensign Energy Services has an average rating of “Buy” and a consensus price target of C$4.94.

Ensign Energy Services Stock Up 4.8%

Ensign Energy Services stock traded up C$0.19 during midday trading on Monday, reaching C$4.12. The stock had a trading volume of 181,224 shares, compared to its average volume of 306,581. Ensign Energy Services has a 12 month low of C$2.30 and a 12 month high of C$4.97. The company has a market capitalization of C$759.43 million, a P/E ratio of -18.73, a PEG ratio of 202.94 and a beta of 1.41. The company has a fifty day moving average price of C$3.85 and a two-hundred day moving average price of C$3.68. The company has a current ratio of 1.24, a quick ratio of 1.30 and a debt-to-equity ratio of 73.88.

Ensign Energy Services (TSE:ESI) last posted its quarterly earnings results on Friday, November 6th. The company reported C$0.06 earnings per share for the quarter. The business had revenue of C$481.71 million for the quarter. Ensign Energy Services had a negative return on equity of 3.11% and a negative net margin of 2.45%. As a group, equities analysts expect that Ensign Energy Services will post 0.29 EPS for the current fiscal year.

About Ensign Energy Services

Ensign is a global leader in oilfield services, headquartered out of Calgary, Alberta, operating in Canada, the United States and internationally. We are one of the world’s top land-based drilling and well servicing contractors serving crude oil, natural gas, and geothermal operators. Our premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment and well servicing. Please visit our website at www.ensignenergy.com.