Essential Energy Services Ltd (ESN) Forecasted to Earn Q3 2016 Earnings of ($0.04) Per Share

Essential Energy Services Ltd (TSE:ESN) – Research analysts at Raymond James Financial cut their Q3 2016 earnings estimates for shares of Essential Energy Services in a note issued to investors on Wednesday. Raymond James Financial analyst A. Bradford now anticipates that the firm will post earnings of ($0.04) per share for the quarter, down from their previous estimate of ($0.02). Raymond James Financial currently has a “Strong-Buy” rating and a $1.35 target price on the stock. Raymond James Financial also issued estimates for Essential Energy Services’ Q2 2017 earnings at ($0.03) EPS and Q2 2018 earnings at ($0.01) EPS.

Earnings History and Estimates for Essential Energy Services (TSE:ESN)

Several other brokerages have also recently issued reports on ESN. Clarus Securities cut Essential Energy Services from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. TD Securities reissued a “buy” rating and issued a C$0.90 price objective on shares of Essential Energy Services in a report on Thursday, August 11th. Finally, AltaCorp Capital lowered Essential Energy Services from an “outperform” rating to a “sector perform” rating in a research note on Monday, July 11th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of C$0.95.

Shares of Essential Energy Services (TSE:ESN) opened at 0.60 on Monday. The company’s market capitalization is $75.50 million. Essential Energy Services has a 1-year low of $0.45 and a 1-year high of $0.78. The stock has a 50 day moving average price of $0.66 and a 200 day moving average price of $0.65.

Essential Energy Services Company Profile

Essential Energy Services Ltd. provides oilfield services to oil and gas exploration and production companies in western Canada. The Company operates through two segments: Well Servicing, and Downhole Tools & Rentals. The Well Servicing segment provides well completion, production and workover services throughout the Western Canadian Sedimentary Basin (WCSB).

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