CES Energy Solutions (TSE:CEU) Reaches New 52-Week High on Analyst Upgrade

CES Energy Solutions Corp. (TSE:CEU)’s stock price reached a new 52-week high during 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 traded. The stock had previously closed at C$20.14.

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

Insider Buying and Selling

In other news, Director John Michael Hooks sold 78,700 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of C$19.10, for a total value of C$1,503,170.00. Following the completion of the sale, the director directly owned 787,351 shares of the company’s stock, valued at C$15,038,404.10. This represents a 9.09% decrease in their position. Corporate insiders own 3.03% of the company’s stock.

More CES Energy Solutions News

Investors following CEU have been watching these news items:

• 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 Price Performance

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

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

About CES Energy Solutions

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.