CES Energy Solutions (TSE:CEU) Stock Gets Downgrade from ATB Cormark Capital Markets

CES Energy Solutions (TSE:CEU) was downgraded by ATB Cormark Capital Markets from a “moderate buy” rating to a “hold” rating in a report released on Monday, MarketBeat.com reports. They currently have a C$23.50 price target on the stock, up from their previous price target of C$21.00. ATB Cormark Capital Markets‘s price objective indicates a potential upside of 13.64% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. National Bank Financial raised shares of CES Energy Solutions from a “hold” rating to an “outperform” rating and set a C$20.00 price target on the stock in a research note on Friday, August 7th. Raymond James Financial upped their price objective on shares of CES Energy Solutions from C$23.00 to C$25.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. TD increased their price objective on shares of CES Energy Solutions from C$18.00 to C$19.00 and gave the company a “hold” rating in a report on Tuesday, October 20th. Finally, Scotia increased 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 report on Monday, August 10th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$21.06.

CES Energy Solutions Stock Up 0.7%

Shares of CEU opened at C$20.68 on Monday. 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 has a one year low of C$9.17 and a one year high of C$20.83. The stock has a market capitalization of C$4.34 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 0.61 and a beta of 0.94. The stock has a 50 day moving average price of C$19.01 and a 200 day moving average price of C$17.39.

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

Insider Transactions at CES Energy Solutions

In other CES Energy Solutions news, Director John Michael Hooks sold 78,700 shares of CES Energy Solutions stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of C$19.10, for a total transaction of C$1,503,170.00. Following the transaction, the director directly owned 787,351 shares of the company’s stock, valued at C$15,038,404.10. The trade was a 9.09% decrease in their ownership of the stock. 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.