CES Energy Solutions (TSE:CEU) Sets New 12-Month High – Here’s What Happened

CES Energy Solutions Corp. (TSE:CEU) reached a new 52-week high on Tuesday . The company traded as high as C$13.78 and last traded at C$13.77, with a volume of 164012 shares traded. The stock had previously closed at C$13.56.

Analyst Ratings Changes

Several research firms recently weighed in on CEU. Raymond James Financial cut shares of CES Energy Solutions from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, November 17th. Royal Bank Of Canada raised their price objective on CES Energy Solutions from C$10.00 to C$11.00 and gave the company an “outperform” rating in a research report on Thursday, October 9th. National Bankshares increased their price target on CES Energy Solutions from C$13.00 to C$15.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. TD Securities lifted their price objective on CES Energy Solutions from C$9.00 to C$11.00 in a research note on Tuesday, October 14th. Finally, Scotiabank increased their target price on CES Energy Solutions from C$9.50 to C$10.25 in a research report on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$11.79.

CES Energy Solutions Stock Performance

The firm has a market capitalization of C$3.09 billion, a PE ratio of 18.39, a P/E/G ratio of 0.61 and a beta of 0.81. The business has a 50-day simple moving average of C$12.32 and a 200-day simple moving average of C$9.79. The company has a debt-to-equity ratio of 57.26, a current ratio of 2.82 and a quick ratio of 1.78.

CES Energy Solutions (TSE:CEU) last released its earnings results on Thursday, November 13th. The company reported C$0.18 earnings per share for the quarter. CES Energy Solutions had a return on equity of 27.61% and a net margin of 8.62%.The firm had revenue of C$623.22 million for the quarter. Equities research analysts expect that CES Energy Solutions Corp. will post 0.8600646 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John Michael Hooks purchased 44,700 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were bought at an average cost of C$11.09 per share, for a total transaction of C$495,723.00. Following the acquisition, the director owned 825,981 shares of the company’s stock, valued at approximately C$9,160,129.29. This trade represents a 5.72% increase in their position. Also, insider Anthony Michael Aulicino acquired 4,545 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was purchased at an average cost of C$10.97 per share, with a total value of C$49,858.65. Following the purchase, the insider owned 1,222,367 shares of the company’s stock, valued at C$13,409,365.99. The trade was a 0.37% increase in their ownership of the stock. Over the last quarter, insiders have bought 54,245 shares of company stock valued at $600,232. 3.03% of the stock is currently owned by company 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.