Enterprise Group, Inc.
Q3 Disappoints;Trump’s Re-election Set to Boost the Sector
Published: 11/25/2024
Author: FRC Analysts
Sector: Energy | Industry: Oil & Gas Equipment & Services
Ticker Symbols:E.TO - TSX 🔹ETOLF - NASDAQ 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | CAD $2.19 |
| Fair Value | CAD $2.75 |
| Risk | 3 |
| 52 Week Range | CAD $0.68-2.25 |
| Shares O/S (M) | 61 |
| Market Cap. (M) | CAD $133 |
| Current Yield (%) | N/A |
| P/E (forward) | 21.2 |
| P/B | 2.5 |
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Report Highlights
- E is up 208% YoY, making it the second-best performing stock on our list of oilfield services companies.
- Q3 revenue was down 19% YoY, missing our estimate by 23%. Lower revenue drove down gross margins, resulting in EPS turning negative. We were disappointed with the results, and the market reacted accordingly, with the shares falling 19% on announcement day.
- Although H1 revenue was up 30% YoY, driven by several new contracts with tier-one clients, Q3 revenue declined as certain clients postponed their activities due to company-specific factors or
