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STEP Energy Services ( (TSE:STEP) ) just unveiled an update.
STEP Energy Services Ltd. has received a non-binding offer from ARC Financial Corp. to acquire the remaining common shares not already owned by ARC for $5.50 per share. A special committee of independent directors has been formed to review the offer, with financial and legal advisors engaged to assist in the process. The outcome of the offer remains uncertain, with no assurance of a binding agreement or transaction approval.
The most recent analyst rating on (TSE:STEP) stock is a Hold with a C$4.50 price target. To see the full list of analyst forecasts on STEP Energy Services stock, see the TSE:STEP Stock Forecast page.
Spark’s Take on TSE:STEP Stock
According to Spark, TipRanks’ AI Analyst, TSE:STEP is a Neutral.
STEP Energy Services’ overall stock score is primarily impacted by its financial performance, which shows declining revenues and profitability. The technical analysis indicates a lack of strong momentum, and the valuation is challenged by a negative P/E ratio. While the earnings call provided some positive insights into technological advancements and debt reduction, these were not enough to offset the broader financial challenges.
To see Spark’s full report on TSE:STEP stock, click here.
More about STEP Energy Services
STEP Energy Services Ltd. is an energy services company specializing in coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing solutions. Founded in 2011, STEP has expanded its operations across North America, providing completion and stimulation services to exploration and production companies in Canada and the U.S. The company is known for its modern equipment, commitment to safety, and quality execution, particularly in challenging environments such as deeper wells with longer laterals and higher pressures.
Average Trading Volume: 13,825
Technical Sentiment Signal: Buy
Current Market Cap: C$310.4M
See more insights into STEP stock on TipRanks’ Stock Analysis page.