Essential Energy Services (ESN) Given a C$0.65 Price Target at Raymond James

Essential Energy Services (TSE:ESN) has been assigned a C$0.65 price target by analysts at Raymond James in a report released on Wednesday, May 8th, reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ price target would suggest a potential upside of 109.68% from the stock’s previous close. Raymond James also issued estimates for Essential Energy Services’ FY2020 earnings at $0.07 EPS.

ESN has been the topic of a number of other research reports. Cormark cut shares of Essential Energy Services from a “buy” rating to a “market perform” rating and cut their price target for the company from C$0.75 to C$0.45 in a research report on Friday, March 8th. Canaccord Genuity cut their price target on shares of Essential Energy Services from C$0.50 to C$0.40 in a research report on Thursday, January 10th.

Shares of TSE:ESN traded down C$0.01 during trading on Wednesday, hitting C$0.31. 87,900 shares of the company were exchanged, compared to its average volume of 283,946. The company has a market capitalization of $45.39 million and a PE ratio of -3.37. The company has a debt-to-equity ratio of 19.69, a quick ratio of 1.73 and a current ratio of 3.60. Essential Energy Services has a 1-year low of C$0.24 and a 1-year high of C$0.63.

Essential Energy Services (TSE:ESN) last announced its quarterly earnings results on Wednesday, March 6th. The company reported C$0.01 earnings per share (EPS) for the quarter. The company had revenue of C$41.19 million for the quarter, compared to analyst estimates of C$41.00 million. On average, equities analysts forecast that Essential Energy Services will post 0.0304615393988166 EPS for the current fiscal year.

About Essential Energy Services

Essential Energy Services Ltd., together with its subsidiaries, provides oilfield services to oil and gas exploration and production companies primarily in western Canada. The company operates in two segments, Essential Coil Well Service (ECWS) and Tryton Tool Services (Tryton). The ECWS segment offers well completion, and production and workover services through its fleet of coil tubing rigs, fluid and nitrogen pumpers, and ancillary equipment.

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