Ensign Energy Services (TSE:ESI) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Ensign Energy Services Inc. (TSE:ESI)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$2.34 and traded as high as C$2.88. Ensign Energy Services shares last traded at C$2.84, with a volume of 116,294 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have commented on ESI shares. Royal Bank Of Canada lowered shares of Ensign Energy Services from a “moderate buy” rating to a “hold” rating and increased their price target for the company from C$2.50 to C$3.00 in a research note on Thursday, October 9th. Atb Cap Markets raised shares of Ensign Energy Services to a “hold” rating in a report on Thursday, October 30th. Finally, CIBC raised their target price on Ensign Energy Services from C$2.50 to C$2.75 in a report on Wednesday, October 15th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Ensign Energy Services presently has an average rating of “Hold” and an average target price of C$3.30.

Ensign Energy Services Stock Performance

The company has a market cap of C$520.48 million, a price-to-earnings ratio of -11.36, a PEG ratio of 202.94 and a beta of 1.57. The stock has a 50 day simple moving average of C$2.54 and a 200 day simple moving average of C$2.34. The company has a quick ratio of 1.30, a current ratio of 0.98 and a debt-to-equity ratio of 84.02.

Ensign Energy Services (TSE:ESI) last announced its earnings results on Friday, November 7th. The company reported C($0.02) earnings per share for the quarter. The business had revenue of C$411.16 million for the quarter. Ensign Energy Services had a net margin of 1.86% and a return on equity of 2.37%. As a group, analysts predict that Ensign Energy Services Inc. will post 0.2901354 EPS for the current year.

About Ensign Energy Services

Ensign Energy Services Inc offers services in drilling and well servicing, oil sands coring, directional drilling, underbalanced and managed pressure drilling, equipment rentals, transportation, wireline services, and production testing services. Ensign produces enhanced drilling with the help of its proprietary automated drilling rigs.