Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Canaccord Genuity’s analyst John Bereznicki reiterates their Buy rating on the shares of Total Energy Services (TSX: TOT), with a C$16 price target.
Bereznicki noted:
“Weirton (WV) facility. We believe improved fixed cost absorption and a more normalized operating environment at Weirton allowed CPS to realize a healthy Q2/18 gross margin of 15.5% (versus our 13.0% estimate and a Q1/18 figure of 12.7%). CPS also exited Q2/18 with yet another record fabrication backlog of C$216.9 million (up from C$207.0 million one quarter earlier). Management expects this backlog to provide CPS with visibility into early 2019.”
According to TipRanks.com, Bereznicki is ranked #1019 out of 4850 analysts.
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Currently, the analyst consensus on Total Energy Services is a Moderate Buy with an average price target of C$16.25.
Total Energy Services’ market cap is currently C$503.1M and has a P/E ratio of 215.8. The company has a Price to Book ratio of 0.92.
Total Energy Services, Inc. engages in the provision of products and services to the oil and natural gas industry. It operates through the following segments: Contract Drilling Services, Rentals and Transportation Services, Compression and Process Services, and Well Servicing.
The company’s shares closed on Thursday at C$10.88, close to its 52-week low of C$10.55.
