CES Energy Solutions (TSE:CEU) Stock Price Target Raised at TD

CES Energy Solutions (TSE:CEU) had its price target increased by TD from C$18.00 to C$19.00 in a report issued on Tuesday, BayStreet reports. The brokerage currently has a “hold” rating on the stock. TD’s price target would indicate a potential downside of 6.59% from the company’s current price.

Other analysts also recently issued reports about the company. Scotia increased their target price on 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. Raymond James Financial lifted their target price on CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. BMO Capital Markets upgraded CES Energy Solutions from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from C$21.00 to C$22.00 in a research note on Wednesday, June 24th. Finally, National Bank Financial raised 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. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$19.83.

CES Energy Solutions Stock Performance

CEU remained flat at C$20.34 during midday trading on Tuesday. 259,236 shares of the company’s stock were exchanged, compared to its average volume of 740,091. CES Energy Solutions has a twelve month low of C$8.65 and a twelve month high of C$20.63. The company’s 50-day simple moving average is C$18.90 and its 200-day simple moving average is C$17.87. The company has a market capitalization of C$4.27 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 0.61 and a beta of 0.94. The company has a debt-to-equity ratio of 55.36, a current ratio of 2.70 and a quick ratio of 1.78.

CES Energy Solutions (TSE:CEU) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$0.18 earnings per share 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%. As a group, 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 related news, Director John Michael Hooks sold 78,700 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of C$19.10, for a total transaction of C$1,503,170.00. Following the completion of the sale, the director owned 787,351 shares in the company, valued at approximately C$15,038,404.10. This trade represents 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.