CES Energy Solutions (TSE:CEU) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

CES Energy Solutions Corp. (TSE:CEU) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$16.65 and traded as high as C$17.59. CES Energy Solutions shares last traded at C$17.13, with a volume of 438,402 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CEU shares. BMO Capital Markets raised shares of CES Energy Solutions from a “market perform” rating to an “outperform” rating and upped their price objective for the company from C$21.00 to C$22.00 in a research note on Wednesday, June 24th. National Bank Financial downgraded shares of CES Energy Solutions from an “outperform” rating to a “sector perform” rating and set a C$20.00 target price for the company. in a report on Wednesday, May 13th. TD lowered their target price on shares of CES Energy Solutions from C$19.00 to C$18.00 and set a “hold” rating for the company in a report on Monday, July 13th. Finally, Royal Bank Of Canada upped their price target on shares of CES Energy Solutions from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 14th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$18.94.

CES Energy Solutions Stock Down 0.4%

The stock has a market cap of C$3.64 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 0.61 and a beta of 0.51. The company has a quick ratio of 1.78, a current ratio of 2.75 and a debt-to-equity ratio of 55.71. The stock has a fifty day moving average of C$16.93 and a two-hundred day moving average of C$16.69.

CES Energy Solutions (TSE:CEU) last issued its earnings results on Thursday, May 7th. The company reported C$0.24 earnings per share (EPS) for the quarter. CES Energy Solutions had a return on equity of 26.01% and a net margin of 8.29%.The business had revenue of C$681.51 million during the quarter. As a group, analysts predict that CES Energy Solutions Corp. will post 0.8600646 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Mihir Patel sold 12,184 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of C$16.04, for a total transaction of C$195,431.36. Following the completion of the sale, the insider directly owned 16,571 shares of the company’s stock, valued at approximately C$265,798.84. This represents a 42.37% decrease in their position. Also, insider Matthew Stephen Bell sold 26,840 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of C$16.04, for a total value of C$430,513.60. Following the completion of the sale, the insider owned 17,000 shares of the company’s stock, valued at approximately C$272,680. This represents a 61.22% decrease in their ownership of the stock. Over the last ninety days, insiders have sold 205,683 shares of company stock valued at $3,684,499. 3.03% of the stock is owned by corporate insiders.

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.