Enerflex (TSE:EFX) Trading 14.9% Higher Following Dividend Announcement

Shares of Enerflex Ltd. (TSE:EFX) rose 14.9% on Thursday following a dividend announcement from the company. The company traded as high as C$7.30 and last traded at C$6.47. Approximately 164,319 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 380,096 shares. The stock had previously closed at C$5.63.

The newly announced dividend which will be paid on Wednesday, January 10th. Stockholders of record on Tuesday, November 21st will be paid a dividend of $0.025 per share. The ex-dividend date is Monday, November 20th. This represents a $0.10 annualized dividend and a dividend yield of 1.64%. Enerflex’s dividend payout ratio is currently -9.17%.

Analyst Ratings Changes

EFX has been the topic of a number of research reports. BMO Capital Markets cut their target price on shares of Enerflex from C$10.00 to C$6.00 and set a “market perform” rating on the stock in a research report on Thursday, October 5th. Stifel Nicolaus dropped their target price on Enerflex from C$12.00 to C$11.00 in a research report on Thursday. CIBC reduced their price target on Enerflex from C$11.75 to C$8.50 and set a “neutral” rating for the company in a research report on Monday, October 16th. ATB Capital dropped their price objective on Enerflex from C$13.00 to C$11.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, National Bankshares reduced their target price on shares of Enerflex from C$14.00 to C$10.00 and set a “sector perform” rating for the company in a report on Friday, October 13th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Enerflex currently has an average rating of “Moderate Buy” and a consensus price target of C$10.50.

Enerflex Stock Down 3.3 %

The company’s 50-day moving average is C$6.72 and its 200 day moving average is C$8.04. The stock has a market capitalization of C$754.49 million, a PE ratio of -5.59 and a beta of 1.71. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 97.80.

Enerflex (TSE:EFX) last posted its quarterly earnings results on Wednesday, August 9th. The company reported C($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.19 by C($0.21). Enerflex had a negative return on equity of 4.36% and a negative net margin of 2.11%. The business had revenue of C$776.67 million for the quarter, compared to analysts’ expectations of C$790.03 million. As a group, analysts anticipate that Enerflex Ltd. will post 0.8163539 EPS for the current year.

About Enerflex

Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and Eastern Hemisphere. The company provides natural gas compression infrastructure, power generation, and processing infrastructure under contract to oil and natural gas customers; power generation rental solutions; custom and standard compression packages for reciprocating and screw compressor applications; re-engineering, re-configuration, and re-packaging of compressors for various field applications; integrated turnkey power generation, gas compression, processing facilities, natural gas compression, processing, electric power solutions, and water solutions; after-market mechanical services and parts distribution, as well as maintenance solutions to the oil and natural gas industry, operations, and overhaul services; and equipment supply, parts supply, and general asset management.