Enerflex (NYSE:EFXT) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS
Enerflex (NYSE:EFXT) reported quarterly earnings of $0.30 per share, missing estimates by $0.01. The company achieved revenue of $777 million, surpassing expectations of $682.88 million. Enerflex also announced a quarterly dividend of $0.0425, an increase from the previous $0.04. Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average target price of $13.13. Institutional investors hold 46.47% of Enerflex's shares, reflecting growing interest in the company.
Enerflex (NYSE:EFXT - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.01), Zacks reports. Enerflex had a net margin of 5.43% and a return on equity of 12.55%. The company had revenue of $777.00 million during the quarter, compared to analysts' expectations of $682.88 million.
Enerflex Stock Up 0.3%
Shares of EFXT traded up $0.04 during midday trading on Friday, hitting $13.41. The stock had a trading volume of 395,265 shares, compared to its average volume of 436,479. Enerflex has a twelve month low of $6.18 and a twelve month high of $13.74. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.19 and a quick ratio of 0.88. The company has a 50 day simple moving average of $11.27 and a two-hundred day simple moving average of $9.06. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 12.19 and a beta of 2.03.
Enerflex Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a $0.0425 dividend. The ex-dividend date of this dividend is Monday, November 17th. This is a positive change from Enerflex's previous quarterly dividend of $0.04. This represents a $0.17 dividend on an annualized basis and a yield of 1.3%. Enerflex's payout ratio is presently 9.09%.
Analysts Set New Price Targets
Several equities analysts recently weighed in on EFXT shares. Zacks Research raised Enerflex from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. Raymond James Financial restated an "outperform" rating on shares of Enerflex in a report on Friday, August 8th. Wall Street Zen downgraded Enerflex from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Royal Bank Of Canada boosted their target price on Enerflex from $15.00 to $17.00 and gave the stock an "outperform" rating in a report on Friday. Finally, BMO Capital Markets restated an "outperform" rating on shares of Enerflex in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Enerflex presently has a consensus rating of "Moderate Buy" and an average target price of $13.13.
Read Our Latest Report on Enerflex
Institutional Investors Weigh In On Enerflex
A number of large investors have recently added to or reduced their stakes in the business. Ewing Morris & Co. Investment Partners Ltd. raised its stake in Enerflex by 22.2% in the 2nd quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 220,000 shares of the company's stock worth $1,733,000 after purchasing an additional 40,000 shares in the last quarter. Man Group plc lifted its position in shares of Enerflex by 433.7% during the 2nd quarter. Man Group plc now owns 1,069,556 shares of the company's stock worth $8,426,000 after buying an additional 869,156 shares during the last quarter. Lazard Asset Management LLC increased its position in Enerflex by 2.5% during the 2nd quarter. Lazard Asset Management LLC now owns 101,048 shares of the company's stock worth $797,000 after purchasing an additional 2,468 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Enerflex by 28.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 37,573 shares of the company's stock valued at $296,000 after acquiring an additional 8,360 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Enerflex by 7.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 75,332 shares of the company's stock valued at $595,000 after purchasing an additional 5,427 shares in the last quarter. Institutional investors own 46.47% of the company's stock.
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 the Eastern Hemisphere. The company provides natural gas compression infrastructure, processing, and treated water 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, and electric power 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.
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