CES Energy Solutions Corp. (TSE:CEU) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of CES Energy Solutions Corp. (TSE:CEU) have been assigned an average rating of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$11.79.

CEU has been the topic of a number of recent analyst reports. ATB Capital lifted their target price on CES Energy Solutions from C$14.00 to C$14.50 and gave the stock an “outperform” rating in a research note on Friday, December 19th. National Bankshares raised their price objective on shares of CES Energy Solutions from C$13.00 to C$15.00 and gave the stock an “outperform” rating in a report on Friday. TD Securities boosted their target price on shares of CES Energy Solutions from C$9.00 to C$11.00 in a research note on Tuesday, October 14th. Scotiabank increased their target price on shares of CES Energy Solutions from C$9.50 to C$10.25 in a research report on Friday, October 17th. Finally, Raymond James Financial cut shares of CES Energy Solutions from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, November 17th.

CES Energy Solutions Price Performance

CES Energy Solutions stock opened at C$12.18 on Friday. CES Energy Solutions has a 52 week low of C$5.59 and a 52 week high of C$13.24. The company’s 50 day moving average price is C$11.70 and its two-hundred day moving average price is C$9.41. The stock has a market cap of C$2.59 billion, a P/E ratio of 15.42, a P/E/G ratio of 0.61 and a beta of 0.81. The company has a quick ratio of 1.78, a current ratio of 2.82 and a debt-to-equity ratio of 57.26.

CES Energy Solutions (TSE:CEU) last issued its quarterly earnings results on Thursday, November 13th. The company reported C$0.18 EPS for the quarter. CES Energy Solutions had a return on equity of 27.61% and a net margin of 8.62%.The business had revenue of C$623.22 million for the quarter. On average, equities analysts predict that CES Energy Solutions will post 0.8600646 earnings per share for the current year.

Insider Activity

In other CES Energy Solutions news, insider Kenneth Earl Zinger bought 5,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was purchased at an average price of C$10.93 per share, for a total transaction of C$54,650.00. Following the completion of the transaction, the insider directly owned 1,872,857 shares of the company’s stock, valued at C$20,470,327.01. This trade represents a 0.27% increase in their ownership of the stock. Also, Director John Michael Hooks acquired 44,700 shares of CES Energy Solutions stock in a transaction that occurred on Tuesday, November 18th. The stock was acquired at an average price of C$11.09 per share, with a total value of C$495,723.00. Following the completion of the purchase, the director directly owned 825,981 shares in the company, valued at C$9,160,129.29. This represents a 5.72% increase in their position. Insiders have bought 54,245 shares of company stock valued at $600,232 in the last 90 days. Insiders own 3.03% of the company’s stock.

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.