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

CES Energy Solutions Corp. (TSE:CEU)’s share price reached 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 research firms also recently commented on CEU. Raymond James Financial boosted their price target 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. BMO Capital Markets raised CES Energy Solutions from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from C$21.00 to C$22.00 in a research report on Wednesday, June 24th. National Bank Financial upgraded CES Energy Solutions from a “hold” rating to an “outperform” rating and set a C$20.00 price objective on the stock in a research note on Friday, August 7th. Finally, Scotia lifted their target price on 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 company’s stock. Based on data from MarketBeat, CES Energy Solutions currently has an average rating of “Moderate Buy” and a consensus target price of C$19.83.

Insiders Place Their Bets

In related news, Director John Michael Hooks sold 78,700 shares of CES Energy Solutions stock in a transaction that occurred on Thursday, September 10th. The shares were 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 in the company, valued at C$15,038,404.10. The trade was a 9.09% decrease in their ownership of the stock. 3.03% of the stock is currently owned by company insiders.

CES Energy Solutions Stock Performance

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

CES Energy Solutions (TSE:CEU) last released its quarterly earnings data on Thursday, August 6th. The company reported C$0.18 earnings per share (EPS) for the quarter. The business had revenue of C$714.08 million during the quarter. CES Energy Solutions had a net margin of 7.36% and a return on equity of 23.68%. As a group, research analysts expect that CES Energy Solutions Corp. will post 0.86 earnings per share for the current fiscal 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.