CES Energy Solutions (TSE:CEU) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

CES Energy Solutions Corp. (TSE:CEU) shares crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of C$17.82 and traded as low as C$17.77. CES Energy Solutions shares last traded at C$18.48, with a volume of 363,872 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CEU shares. TD reduced their price target on 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. Raymond James Financial lifted their target price on shares of CES Energy Solutions from C$23.00 to C$25.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Scotia boosted their target price 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 note on Monday, August 10th. 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 report on Friday, August 7th. Finally, BMO Capital Markets upgraded shares of CES Energy Solutions from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$21.00 to C$22.00 in a research report on Wednesday, June 24th. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, CES Energy Solutions currently has a consensus rating of “Moderate Buy” and an average target price of C$19.72.

CES Energy Solutions Price Performance

The company has a debt-to-equity ratio of 55.36, a current ratio of 2.70 and a quick ratio of 1.78. The stock has a market capitalization of C$3.79 billion, a price-to-earnings ratio of 19.62, a price-to-earnings-growth ratio of 0.61 and a beta of 0.94. The stock has a 50 day moving average price of C$18.43 and a 200-day moving average price of C$17.82.

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. The firm had revenue of C$714.08 million during the quarter. CES Energy Solutions had a return on equity of 23.68% and a net margin of 7.36%. On average, analysts forecast that CES Energy Solutions Corp. will post 0.8600646 earnings per share for the current year.

Insider Activity at CES Energy Solutions

In other news, Director John Michael Hooks sold 78,700 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of C$19.10, for a total value of C$1,503,170.00. Following the completion of the sale, the director directly owned 787,351 shares in the company, valued at C$15,038,404.10. This represents a 9.09% decrease in their ownership of the stock. 3.03% of the stock is 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.