Enerflex (NYSE:EFXT) Sets New 52-Week Low After Analyst Downgrade

Posted by Defense World Staff on Oct 7th, 2023

Enerflex Ltd. (NYSE:EFXT – Get Free Report) reached a new 52-week low during trading on Friday after BMO Capital Markets lowered their price target on the stock from C$10.00 to C$6.00. The company traded as low as $4.00 and last traded at $4.15, with a volume of 49595 shares traded. The stock had previously closed at $4.28.

A number of other research firms have also recently commented on EFXT. TheStreet cut shares of Enerflex from a “c-” rating to a “d+” rating in a research report on Thursday, September 7th. Stifel Nicolaus reduced their target price on shares of Enerflex from C$16.50 to C$12.00 in a research report on Tuesday. Royal Bank of Canada reduced their target price on shares of Enerflex from C$15.00 to C$14.00 in a research report on Wednesday. Finally, National Bank Financial boosted their target price on shares of Enerflex from C$11.50 to C$14.00 in a research report on Thursday, August 10th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Enerflex currently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Read Our Latest Stock Report on Enerflex

Institutional Trading of Enerflex

Several institutional investors have recently added to or reduced their stakes in the stock. Canoe Financial LP acquired a new stake in Enerflex in the first quarter valued at $61,792,000. Chai Trust Co. LLC acquired a new stake in Enerflex in the fourth quarter valued at $52,637,000. 1832 Asset Management L.P. raised its holdings in Enerflex by 2.4% in the second quarter. 1832 Asset Management L.P. now owns 7,604,400 shares of the company’s stock valued at $51,862,000 after acquiring an additional 176,500 shares in the last quarter. Letko Brosseau & Associates Inc. raised its holdings in Enerflex by 0.9% in the first quarter. Letko Brosseau & Associates Inc. now owns 7,111,636 shares of the company’s stock valued at $42,301,000 after acquiring an additional 65,025 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in Enerflex by 68.9% in the second quarter. Royal Bank of Canada now owns 1,598,132 shares of the company’s stock valued at $10,899,000 after acquiring an additional 651,978 shares in the last quarter. 44.06% of the stock is owned by institutional investors and hedge funds.

Enerflex Stock Down 0.5 %

The company has a market capitalization of $527.75 million and a price-to-earnings ratio of -5.92. The stock’s fifty day simple moving average is $6.17 and its two-hundred day simple moving average is $6.27. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.29 and a quick ratio of 0.91.

Enerflex (NYSE:EFXT – Get Free Report) last issued its earnings results on Wednesday, August 9th. The company reported ($0.02) earnings per share for the quarter. The business had revenue of $578.25 million for the quarter. Enerflex had a positive return on equity of 0.64% and a negative net margin of 3.85%. On average, sell-side analysts predict that Enerflex Ltd. will post 0.69 earnings per share for the current fiscal year.

Enerflex Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Thursday, August 24th will be issued a dividend of $0.019 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.78%. This is a boost from Enerflex’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Wednesday, August 23rd. Enerflex’s dividend payout ratio is -9.72%.

Enerflex Company Profile

(Get Free Report)

Enerflex Ltd. offers energy infrastructure and energy transition solutions to natural gas markets in North America, Latin America, and Eastern Hemisphere. The company provides natural gas compression infrastructure, power generation, and processing infrastructure under contract to oil and natural gas customers; power generation rental solutions; custom and standard compression packages for reciprocating and screw compressor applications; re-engineering, re-configuration, and re-packaging of compressors for various field applications; integrated turnkey power generation, gas compression, processing facilities, natural gas compression, processing, electric power solutions, and water solutions; after-market mechanical services and parts distribution, as well as maintenance solutions to the oil and natural gas industry, operations, and overhaul services; and equipment supply, parts supply, and general asset management.