CES Energy Solutions (TSE:CEU) Announces Earnings Results

CES Energy Solutions (TSE:CEU) issued its quarterly earnings results on Tuesday. The company reported C$0.53 earnings per share for the quarter, FiscalAI reports. CES Energy Solutions had a net margin of 7.32% and a return on equity of 22.00%.

CES Energy Solutions Trading Up 4.2%

Shares of CES Energy Solutions stock traded up C$0.72 during trading on Tuesday, hitting C$17.81. The stock had a trading volume of 999,261 shares, compared to its average volume of 803,103. CES Energy Solutions has a 1 year low of C$5.59 and a 1 year high of C$18.13. The stock has a 50 day simple moving average of C$14.69 and a 200 day simple moving average of C$11.72. The company has a quick ratio of 1.78, a current ratio of 3.02 and a debt-to-equity ratio of 61.70. The company has a market capitalization of C$3.79 billion, a PE ratio of 22.54, a P/E/G ratio of 0.61 and a beta of 1.00.

Wall Street Analyst Weigh In

CEU has been the topic of a number of research reports. National Bank Financial boosted their target price 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, January 9th. Raymond James Financial lowered shares of CES Energy Solutions from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, November 17th. ATB Cormark Capital Markets upped their price target on CES Energy Solutions from C$14.50 to C$16.50 and gave the company an “outperform” rating in a report on Monday, January 26th. Scotiabank increased their price objective on CES Energy Solutions from C$12.25 to C$16.00 in a research report on Thursday, January 29th. Finally, TD Securities lowered CES Energy Solutions from a “buy” rating to a “hold” rating and raised their price objective for the stock from C$12.00 to C$16.00 in a research note on Monday, January 26th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$13.92.

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.