CES Energy Solutions (TSE:CEU) Price Target Raised to C$22.00

CES Energy Solutions (TSE:CEU) had its target price increased by equities research analysts at Scotia from C$21.00 to C$22.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has a “sector outperform” rating on the stock. Scotia’s price objective would indicate a potential upside of 17.96% from the stock’s current price.

Several other brokerages have also issued reports on CEU. TD dropped their price objective on CES Energy Solutions from C$19.00 to C$18.00 and set a “hold” rating on the stock in a report on Monday, July 13th. Royal Bank Of Canada increased 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 report on Tuesday, April 14th. BMO Capital Markets raised shares of CES Energy Solutions from a “market perform” rating to an “outperform” rating and upped their price target for the stock from C$21.00 to C$22.00 in a research note on Wednesday, June 24th. Finally, National Bank Financial raised CES Energy Solutions from a “hold” rating to an “outperform” rating and set a C$20.00 price objective for the company in a report on Friday. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$19.72.

CES Energy Solutions Stock Up 1.7%

TSE:CEU traded up C$0.32 during trading hours on Monday, hitting C$18.65. The company’s stock had a trading volume of 314,868 shares, compared to its average volume of 789,239. CES Energy Solutions has a 52-week low of C$7.33 and a 52-week high of C$19.58. The company has a current ratio of 2.70, a quick ratio of 1.78 and a debt-to-equity ratio of 55.36. The stock has a market capitalization of C$3.93 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50. The stock has a fifty day moving average of C$16.62 and a 200-day moving average of C$17.00.

CES Energy Solutions (TSE:CEU) last posted its earnings results on Thursday, May 7th. The company reported C$0.24 earnings per share for the quarter. The firm had revenue of C$681.51 million during the quarter. CES Energy Solutions had a return on equity of 23.68% and a net margin of 7.36%. On average, equities analysts forecast that CES Energy Solutions will post 0.8600646 earnings per share for the current year.

Insider Buying and Selling

In other news, insider David Allyn Burroughs sold 28,815 shares of CES Energy Solutions stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of C$16.04, for a total transaction of C$462,192.60. Also, insider Matthew Stephen Bell sold 26,840 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of C$16.04, for a total transaction of C$430,513.60. Following the transaction, the insider directly owned 17,000 shares in the company, valued at approximately C$272,680. The trade was a 61.22% decrease in their ownership of the stock. Insiders sold a total of 205,683 shares of company stock valued at $3,684,499 over the last ninety days. Insiders own 3.03% of the company’s stock.

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.