BMO Capital Markets Downgrades CES Energy Solutions (TSE:CEU) to Hold

CES Energy Solutions (TSE:CEU) was downgraded by investment analysts at BMO Capital Markets from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other research firms have also recently issued reports on CEU. National Bank Financial increased 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 research note on Friday, January 9th. TD Securities lowered shares of CES Energy Solutions from a “buy” rating to a “hold” rating and boosted their price target for the company from C$12.00 to C$16.00 in a research report on Monday, January 26th. Raymond James Financial cut shares of CES Energy Solutions from a “strong-buy” rating to a “moderate buy” rating in a report on Monday, November 17th. ATB Cormark Capital Markets increased their price objective on CES Energy Solutions from C$14.50 to C$16.50 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, Scotiabank lifted their price objective on CES Energy Solutions from C$12.25 to C$16.00 in a research note on Thursday, January 29th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$13.92.

CES Energy Solutions Trading Up 2.4%

Shares of CEU opened at C$18.24 on Wednesday. CES Energy Solutions has a twelve month low of C$5.59 and a twelve month high of C$18.99. The stock has a market cap of C$3.88 billion, a PE ratio of 23.09, a P/E/G ratio of 0.61 and a beta of 1.00. 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 business’s 50-day moving average price is C$14.92 and its 200-day moving average price is C$11.83.

CES Energy Solutions (TSE:CEU) last released its quarterly earnings data on Tuesday, March 10th. The company reported C$0.53 EPS for the quarter. CES Energy Solutions had a net margin of 7.32% and a return on equity of 22.00%. On average, equities analysts forecast that CES Energy Solutions will post 0.8600646 EPS for the current fiscal year.

About CES Energy Solutions

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.