CES Energy Solutions (TSE:CEU) Stock Price Expected to Rise, National Bank Financial Analyst Says

CES Energy Solutions (TSE:CEU) had its price objective hoisted by investment analysts at National Bank Financial from C$20.00 to C$24.00 in a note issued to investors on Monday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial‘s target price would indicate a potential upside of 16.90% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. 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 note on Monday, August 10th. Raymond James Financial upped their target price on CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an “outperform” rating in a research report on Monday, August 10th. TD increased their target price on CES Energy Solutions from C$18.00 to C$19.00 and gave the stock a “hold” rating in a report on Tuesday, October 20th. Finally, ATB Cormark Capital Markets downgraded shares of CES Energy Solutions from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from C$21.00 to C$23.50 in a research report on Monday. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$21.06.

CES Energy Solutions Stock Up 2.4%

Shares of CEU traded up C$0.49 during trading hours on Monday, hitting C$20.53. The stock had a trading volume of 178,389 shares, compared to its average volume of 739,343. CES Energy Solutions has a 1-year low of C$9.17 and a 1-year high of C$20.83. The firm has a market capitalization of C$4.31 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 0.61 and a beta of 0.94. The firm has a 50 day simple moving average of C$18.98 and a 200-day simple moving average of C$17.95. 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 posted its quarterly earnings results on Thursday, August 6th. The company reported C$0.18 earnings per share for the quarter. CES Energy Solutions had a return on equity of 23.68% and a net margin of 7.36%. The business had revenue of C$714.08 million for the quarter. Sell-side analysts predict that CES Energy Solutions will post 0.86 EPS for the current fiscal year.

Insiders Place Their Bets

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