CIBC Cuts Ensign Energy Services (ESI) Price Target to C$8.50

Ensign Energy Services (TSE:ESI) had its target price lowered by CIBC from C$9.50 to C$8.50 in a research report sent to investors on Tuesday morning.

A number of other analysts also recently issued reports on the stock. Canaccord Genuity dropped their target price on shares of Ensign Energy Services from C$6.50 to C$6.25 in a research report on Tuesday. Evercore downgraded shares of Ensign Energy Services from an outperform rating to an in-line rating and dropped their target price for the stock from C$7.00 to C$6.00 in a research report on Tuesday. BMO Capital Markets dropped their target price on shares of Ensign Energy Services from C$7.50 to C$6.50 and set a market perform rating for the company in a research report on Wednesday, August 8th. Finally, GMP Securities raised shares of Ensign Energy Services from a reduce rating to a hold rating and increased their target price for the stock from C$5.00 to C$5.75 in a research report on Wednesday, August 8th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and an average price target of C$6.94.

ESI opened at C$5.46 on Tuesday. Ensign Energy Services has a 1 year low of C$5.29 and a 1 year high of C$7.83.

Ensign Energy Services (TSE:ESI) last posted its earnings results on Tuesday, August 7th. The company reported C($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C($0.26) by C$0.03. The firm had revenue of C$263.06 million during the quarter, compared to the consensus estimate of C$244.05 million. Ensign Energy Services had a negative net margin of 14.78% and a negative return on equity of 8.73%.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 4th. Shareholders of record on Thursday, October 4th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 8.79%. The ex-dividend date was Thursday, September 20th.

In other news, Director Roger Lace acquired 5,500 shares of the stock in a transaction on Thursday, October 11th. The stock was bought at an average price of C$5.81 per share, with a total value of C$31,955.00.

About Ensign Energy Services

Ensign Energy Services Inc, together with its subsidiaries, provides oilfield services 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 coring and oil sands drilling services to the mining, and oil and natural gas industries.

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Analyst Recommendations for Ensign Energy Services (TSE:ESI)

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