CES Energy Solutions (TSE:CEU) Sets New 52-Week High – Here’s What Happened

CES Energy Solutions Corp. (TSE:CEU) reached a new 52-week high during trading on Wednesday. The company traded as high as C$20.21 and last traded at C$19.91, with a volume of 411,609 shares traded. The stock had previously closed at C$20.06.

Analyst Ratings Changes

Several research analysts have recently weighed in on CEU shares. BMO Capital Markets upgraded shares of CES Energy Solutions from a “market perform” rating to an “outperform” rating and upped their target price for the company from C$21.00 to C$22.00 in a research note on Wednesday, June 24th. Raymond James Financial lifted 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 upgraded shares of CES Energy Solutions from a “hold” rating to an “outperform” rating and set a C$20.00 price objective on the stock in a report on Friday, August 7th. TD decreased their price objective on shares of CES Energy Solutions from C$19.00 to C$18.00 and set a “hold” rating for the company in a research report on Monday, July 13th. Finally, Scotia upped their price objective 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 report on Monday, August 10th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$19.72.

CES Energy Solutions Trading Down 1.4%

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 company has a market cap of C$4.15 billion, a price-to-earnings ratio of 21.49, a price-to-earnings-growth ratio of 0.61 and a beta of 0.94. The firm has a 50-day moving average price of C$18.70 and a 200 day moving average price of C$17.84.

CES Energy Solutions (TSE:CEU) last posted its quarterly earnings results 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 for the quarter. CES Energy Solutions had a return on equity of 23.68% and a net margin of 7.36%. As a group, sell-side analysts forecast that CES Energy Solutions Corp. will post 0.86 EPS for the current 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 that occurred 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 completion of the transaction, the director directly 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 insiders.

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.