CES Energy Solutions (TSE:CEU) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

CES Energy Solutions Corp. (TSE:CEU) shares crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 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.

CES Energy Solutions News Summary

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

Analyst Ratings Changes

Several brokerages have recently commented on CEU. Raymond James Financial increased 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. National Bank Financial lifted their price objective on shares of CES Energy Solutions from C$20.00 to C$24.00 and gave the company an “outperform” rating in a research note on Monday, October 26th. TD upped 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. Scotia increased 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 research report on Monday, August 10th. Finally, ATB Cormark Capital Markets raised shares of CES Energy Solutions from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$23.50 to C$24.00 in a research report on Friday. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$21.11.

CES Energy Solutions Trading Up 7.0%

The company’s 50 day moving average is C$19.34 and its 200 day moving average is C$17.85. The stock has a market capitalization of C$4.52 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 0.61 and a beta of 0.87. The company has a debt-to-equity ratio of 55.36, a quick ratio of 1.78 and a current ratio of 2.70.

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

Insider Buying and Selling

In other CES Energy Solutions news, Director John Michael Hooks sold 87,640 shares of CES Energy Solutions stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of C$18.98, for a total transaction of C$1,663,407.20. Following the sale, the director owned 866,051 shares in the company, valued at C$16,437,647.98. The trade was a 9.19% decrease in their ownership of the stock. 3.03% of the stock is currently owned by company 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.