CES Energy Solutions (TSE:CEU) Sets New 12-Month High on Analyst Upgrade

CES Energy Solutions Corp. (TSE:CEU)’s share price hit a new 52-week high during mid-day trading on Tuesday after TD raised their price target on the stock from C$18.00 to C$19.00. TD currently has a hold rating on the stock. CES Energy Solutions traded as high as C$20.45 and last traded at C$20.34, with a volume of 405,638 shares. The stock had previously closed at C$20.20.

Several other brokerages have also recently commented on CEU. Raymond James Financial boosted their target price on shares of CES Energy Solutions from C$23.00 to C$25.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. National Bank Financial raised shares of CES Energy Solutions from a “hold” rating to an “outperform” rating and set a C$20.00 price target for the company in a report on Friday, August 7th. BMO Capital Markets upgraded shares of CES Energy Solutions from a “market perform” rating to an “outperform” rating and increased their price target for the stock from C$21.00 to C$22.00 in a research report on Wednesday, June 24th. Finally, Scotia increased their price target on shares of CES Energy Solutions from C$21.00 to C$22.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 10th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$19.83.

Insider Activity

In other news, Director John Michael Hooks sold 87,640 shares of CES Energy Solutions stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of C$18.98, for a total value of C$1,663,407.20. Following the transaction, the director owned 866,051 shares in the company, valued at approximately C$16,437,647.98. This trade represents a 9.19% decrease in their position. Insiders own 3.03% of the company’s stock.

CES Energy Solutions Stock Performance

The company has a debt-to-equity ratio of 55.36, a current ratio of 2.70 and a quick ratio of 1.78. The stock has a market cap of C$4.31 billion, a P/E ratio of 22.33, a PEG ratio of 0.61 and a beta of 0.94. The stock has a 50-day simple moving average of C$18.95 and a 200-day simple moving average of C$17.91.

CES Energy Solutions (TSE:CEU) last issued its earnings results on Thursday, August 6th. The company reported C$0.18 EPS for the quarter. CES Energy Solutions had a return on equity of 23.68% and a net margin of 7.36%. The firm had revenue of C$714.08 million during the quarter. Research analysts forecast 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.