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STEP Energy Services ( (TSE:STEP) ) has issued an announcement.
STEP Energy Services Ltd. has entered into a definitive agreement with ARC Financial Corp. to take the company private in an all-cash transaction valued at $5.50 per share. This arrangement, unanimously approved by STEP’s board, represents a 29% premium over the company’s previous closing price and is expected to close in December 2025. The transaction highlights significant support from minority shareholders and does not require ARC to obtain financing, indicating a strategic move to maximize shareholder value.
The most recent analyst rating on (TSE:STEP) stock is a Hold with a C$5.50 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.
The overall stock score reflects a mixed outlook for STEP Energy Services. The company’s financial performance is challenged by declining revenues and profitability, but it shows resilience in cash management and leverage improvement. Technical analysis indicates strong bullish momentum, which is a positive factor. Valuation remains a concern due to negative earnings and lack of dividends. The earnings call provides a cautiously optimistic outlook, focusing on operational efficiency and market positioning.
To see Spark’s full report on TSE:STEP stock, click here.
More about STEP Energy Services
STEP Energy Services Ltd. operates in the energy services industry, providing specialized services to the oil and gas sector in North America. The company focuses on delivering best-in-class energy solutions and has developed a strong reputation for its commitment to clients, communities, and employees.
Average Trading Volume: 25,866
Technical Sentiment Signal: Buy
Current Market Cap: C$392.1M
See more insights into STEP stock on TipRanks’ Stock Analysis page.