Essential Energy Services (ESN) Shares Down 11.3%

Essential Energy Services Ltd (TSE:ESN)’s share price was down 11.3% during trading on Thursday . The company traded as low as C$0.60 and last traded at C$0.63. Approximately 132,610 shares traded hands during mid-day trading, an increase of 21% from the average daily volume of 109,155 shares. The stock had previously closed at C$0.71.

A number of equities analysts have recently commented on ESN shares. Raymond James Financial cut Essential Energy Services from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from C$1.50 to C$1.30 in a report on Tuesday, January 16th. Clarus Securities reiterated a “buy” rating on shares of Essential Energy Services in a report on Friday, November 10th.

The company has a market capitalization of $92.21, a price-to-earnings ratio of 32.50 and a beta of 1.38.

Essential Energy Services (TSE:ESN) last announced its earnings results on Wednesday, November 8th. The company reported C$0.02 EPS for the quarter. The firm had revenue of C$48.75 million during the quarter, compared to analysts’ expectations of C$39.05 million. Essential Energy Services had a return on equity of 5.76% and a net margin of 4.81%.

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About Essential Energy Services

Essential Energy Services Ltd is a Canada-based company, which provides oilfield services to oil and natural gas producers, primarily in western Canada.

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