CES Energy Solutions (TSE:CEU) Reaches New 12-Month High – What’s Next?

CES Energy Solutions Corp. (TSE:CEU) hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as C$20.45 and last traded at C$20.34, with a volume of 405,638 shares trading hands. The stock had previously closed at C$20.20.

Wall Street Analysts Forecast Growth

Several research analysts have commented on 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 objective for the company in a report on Friday, August 7th. Scotia raised their price objective on CES Energy Solutions from C$21.00 to C$22.00 and gave the company a “sector outperform” rating in a research report 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 raised CES Energy Solutions from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from C$21.00 to C$22.00 in a report on Wednesday, June 24th. Finally, TD decreased their target price on CES Energy Solutions from C$19.00 to C$18.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$19.72.

CES Energy Solutions Stock 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 business has a 50-day simple moving average of C$18.90 and a 200-day simple moving average of C$17.87. The firm has a market capitalization of C$4.27 billion, a PE ratio of 22.11, a P/E/G ratio of 0.61 and a beta of 0.94.

CES Energy Solutions (TSE:CEU) last posted its quarterly earnings data on Thursday, August 6th. The company reported C$0.18 earnings per share (EPS) for the quarter. The business 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%. Equities research analysts expect that CES Energy Solutions Corp. will post 0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at CES Energy Solutions

In related news, Director John Michael Hooks sold 87,640 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of C$18.98, for a total transaction of C$1,663,407.20. Following the sale, the director owned 866,051 shares in the company, valued at approximately C$16,437,647.98. This represents a 9.19% decrease in their position. Corporate 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.