CES Energy Solutions (TSE:CEU) Hits New 1-Year High After Analyst Upgrade

CES Energy Solutions Corp. (TSE:CEU) shares reached a new 52-week high during mid-day trading on Friday after ATB Cormark Capital Markets upgraded the stock from a sector perform rating to an outperform rating. ATB Cormark Capital Markets now has a C$24.00 price target on the stock, up from their previous price target of C$23.50. CES Energy Solutions traded as high as C$22.00 and last traded at C$21.04, with a volume of 116,076 shares changing hands. The stock had previously closed at C$20.14.

Other equities research analysts also recently issued research reports about the stock. Raymond James Financial raised their price objective on shares of CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. National Bank Financial upped their target price on shares of CES Energy Solutions from C$20.00 to C$24.00 and gave the company an “outperform” rating in a research note on Monday, October 26th. TD upped their target price on shares of CES Energy Solutions from C$18.00 to C$19.00 and gave the company a “hold” rating in a research note on Tuesday, October 20th. Finally, Scotia increased their price target on shares of CES Energy Solutions from C$21.00 to C$22.00 and gave the company a “sector outperform” rating in a report on Monday, August 10th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, CES Energy Solutions has an average rating of “Moderate Buy” and an average target price of C$21.11.

Insider Transactions at CES Energy Solutions

In related news, Director John Michael Hooks sold 87,640 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of C$18.98, for a total transaction of C$1,663,407.20. Following the transaction, the director directly owned 866,051 shares in the company, valued at C$16,437,647.98. The trade was a 9.19% decrease in their ownership of the stock. 3.03% of the stock is owned by corporate insiders.

Key CES Energy Solutions News

Here’s some of the latest news about CEU:

• Positive Sentiment: Analyst upgrade: ATB Cormark Capital Markets raised its rating from “sector perform” to “outperform” and lifted its price target to C$24.00 from C$23.50. The target implies about 13.7% upside from the cited C$21.11 share price. ATB Cormark rating information
• Positive Sentiment: Q3 results: CES reported C$0.35 in earnings per share and C$784.82 million in revenue for the quarter. Reports also said net income and revenue increased year over year, supporting the positive outlook. CES Energy Solutions Q3 Net Income, Revenue Rises

CES Energy Solutions Trading Up 7.0%

The firm has a market capitalization of C$4.52 billion, a P/E ratio of 23.41, a PEG ratio of 0.61 and a beta of 0.87. The company has a quick ratio of 1.78, a current ratio of 2.70 and a debt-to-equity ratio of 55.36. The business has a 50-day moving average price of C$19.34 and a 200-day moving average price of C$17.85.

CES Energy Solutions (TSE:CEU) last issued its earnings results on Thursday, November 12th. The company reported C$0.35 EPS for the quarter. The business had revenue of C$784.82 million during the quarter. CES Energy Solutions had a return on equity of 23.68% and a net margin of 7.36%. Analysts anticipate that CES Energy Solutions Corp. will post 0.86 earnings per share for the current year.

CES Energy Solutions Company Profile

CES is a leading provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. This includes solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and finally through to the pipeline and midstream market. CES’ business model is relatively asset light and requires limited re-investment capital to grow. As a result, CES has been able to capitalize on the growing market demand for drilling fluids and production and specialty chemicals in North America while generating free cash flow.