Source Energy Services Ltd (SHLE) Receives C$1.62 Consensus Target Price from Analysts

Source Energy Services Ltd (TSE:SHLE) has been given a consensus recommendation of “Hold” by the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$1.62.

A number of research firms recently weighed in on SHLE. TD Securities reduced their price objective on shares of Source Energy Services from C$1.60 to C$1.20 and set a “hold” rating for the company in a research note on Wednesday, March 6th. Industrial Alliance Securities lowered shares of Source Energy Services from a “speculative buy” rating to a “hold” rating in a research note on Monday, May 6th. CIBC reduced their price objective on shares of Source Energy Services from C$1.25 to C$1.00 in a research note on Thursday, February 21st. Cormark reduced their price objective on shares of Source Energy Services from C$8.00 to C$3.00 in a research note on Wednesday, May 8th. Finally, Canaccord Genuity lowered shares of Source Energy Services from a “buy” rating to a “speculative buy” rating and reduced their price objective for the company from C$2.25 to C$1.60 in a research note on Wednesday, May 29th.

Shares of SHLE stock traded down C$0.02 during trading hours on Friday, hitting C$0.98. 20,094 shares of the company were exchanged, compared to its average volume of 70,112. The company has a quick ratio of 0.87, a current ratio of 1.61 and a debt-to-equity ratio of 84.29. Source Energy Services has a 52-week low of C$0.86 and a 52-week high of C$5.55. The firm has a market cap of $60.24 million and a P/E ratio of -4.43.

Source Energy Services Company Profile

Source Energy Services Ltd. produces, supplies, and distributes Northern White frac sand used primarily in oil and gas exploration and production in Western Canada and the United States. It also provides storage and logistics services for other bulk oil and gas well completion materials; and develops wellsite mobile sand storage and handling system.

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Analyst Recommendations for Source Energy Services (TSE:SHLE)

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