Analysts Set STEP Energy Services Ltd (STEP) Target Price at $6.89

STEP Energy Services Ltd (TSE:STEP) has been given an average rating of “Buy” by the nine brokerages that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is C$6.89.

A number of research analysts have commented on the stock. GMP Securities reiterated an “average” rating and set a C$5.75 price target on shares of STEP Energy Services in a research report on Tuesday, January 8th. National Bank Financial cut their target price on shares of STEP Energy Services from C$5.50 to C$3.00 and set a “sector perform” rating on the stock in a report on Thursday, March 7th. Raymond James cut their target price on shares of STEP Energy Services from C$7.75 to C$6.00 and set a “strong-buy” rating on the stock in a report on Thursday, March 7th. CIBC cut their target price on shares of STEP Energy Services from C$5.50 to C$5.00 in a report on Monday, March 11th. Finally, BMO Capital Markets restated a “market perform” rating and issued a C$2.50 target price on shares of STEP Energy Services in a report on Friday, March 8th.

Shares of TSE STEP opened at C$2.52 on Thursday. STEP Energy Services has a one year low of C$1.65 and a one year high of C$12.99. The company has a current ratio of 1.69, a quick ratio of 1.29 and a debt-to-equity ratio of 56.19. The company has a market cap of $167.82 million and a price-to-earnings ratio of -4.17.

STEP Energy Services Company Profile

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.

Further Reading: Limitations of the P/E Growth ratio

Analyst Recommendations for STEP Energy Services (TSE:STEP)

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