Brokerages Set STEP Energy Services Ltd (TSE:STEP) Price Target at C$3.78

STEP Energy Services Ltd (TSE:STEP) has received an average recommendation of “Hold” from the eight analysts that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$3.78.

A number of equities analysts have weighed in on STEP shares. National Bank Financial lowered STEP Energy Services from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$3.00 to C$2.00 in a research note on Wednesday, October 2nd. Raymond James reduced their price objective on STEP Energy Services from C$6.00 to C$4.50 and set a “strong-buy” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a C$2.75 price objective on shares of STEP Energy Services in a research note on Wednesday, July 3rd. BMO Capital Markets reduced their price objective on STEP Energy Services from C$2.00 to C$1.75 in a research note on Tuesday, September 10th. Finally, Cormark lifted their price objective on STEP Energy Services from C$4.00 to C$4.50 in a research note on Friday, August 9th.

Shares of TSE STEP traded down C$0.02 during trading on Thursday, reaching C$1.34. 86,900 shares of the company traded hands, compared to its average volume of 170,227. The firm’s fifty day simple moving average is C$1.51 and its 200 day simple moving average is C$1.87. The stock has a market cap of $98.81 million and a P/E ratio of -1.59. STEP Energy Services has a 12-month low of C$1.33 and a 12-month high of C$4.75. The company has a current ratio of 1.77, a quick ratio of 1.47 and a debt-to-equity ratio of 60.25.

About STEP Energy Services

STEP Energy Services Ltd., an oilfield service company, provides integrated coiled tubing and fracturing solutions to service oil and natural gas wells in Canada and the United States. The company applies fit-for-purpose coiled tubing, pumping, and hydraulic fracturing technology to enhance reservoir performance in well stimulation and intervention projects for clients operating in unconventional oil, gas, and liquids rich plays.

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Analyst Recommendations for STEP Energy Services (TSE:STEP)

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