CES Energy Solutions Corp. (TSE:CEU – Get Free Report)’s stock price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$19.26 and traded as high as C$19.94. CES Energy Solutions shares last traded at C$19.71, with a volume of 591,721 shares trading hands.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on CEU shares. Raymond James Financial lifted their target price on 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. TD boosted their target price on CES Energy Solutions from C$18.00 to C$19.00 and gave the stock a “hold” rating in a research note on Tuesday, October 20th. National Bank Financial increased their target price on shares of CES Energy Solutions from C$20.00 to C$24.00 and gave the stock an “outperform” rating in a report on Monday, October 26th. ATB Cormark Capital Markets downgraded shares of CES Energy Solutions from a “moderate buy” rating to a “hold” rating and raised their price target for the company from C$21.00 to C$23.50 in a research note on Monday, October 26th. Finally, Scotia raised 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 research note on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, CES Energy Solutions currently has an average rating of “Moderate Buy” and an average target price of C$21.06.
Read Our Latest Research Report on CEU
CES Energy Solutions Trading Up 3.0%
The business’s 50 day simple moving average is C$19.26 and its two-hundred day simple moving average is C$17.78. The stock has a market cap of C$4.13 billion, a P/E ratio of 21.42, 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.
CES Energy Solutions (TSE:CEU – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$0.18 earnings per share (EPS) for the quarter. CES Energy Solutions had a net margin of 7.36% and a return on equity of 23.68%. The company had revenue of C$714.08 million during the quarter. As a group, analysts expect that CES Energy Solutions Corp. will post 0.86 EPS for the current year.
Insiders Place Their Bets
In other CES Energy Solutions 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 transaction, the director 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. 3.03% of the stock is owned by corporate insiders.
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.
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