CES Energy Solutions (TSE:CEU) Cut to Sector Perform at National Bank Financial

National Bank Financial downgraded shares of CES Energy Solutions (TSE:CEU) from an outperform rating to a sector perform rating in a research report report published on Wednesday morning, MarketBeat reports. National Bank Financial currently has C$20.00 price objective on the stock.

Several other equities research analysts have also recently issued reports on the stock. Scotiabank lifted their price objective on shares of CES Energy Solutions from C$12.25 to C$16.00 in a research report on Thursday, January 29th. TD upped their price target on shares of CES Energy Solutions from C$18.00 to C$19.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. TD Securities downgraded shares of CES Energy Solutions from a “buy” rating to a “hold” rating and increased their price objective for the company from C$12.00 to C$16.00 in a research note on Monday, January 26th. ATB Cormark Capital Markets boosted their price target on shares of 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, Raymond James Financial lifted their target price on shares of CES Energy Solutions from C$15.00 to C$21.00 in a research report on Thursday, March 12th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$18.64.

CES Energy Solutions Price Performance

TSE:CEU opened at C$18.40 on Wednesday. CES Energy Solutions has a 52 week low of C$5.97 and a 52 week high of C$19.58. The company has a quick ratio of 1.78, a current ratio of 2.75 and a debt-to-equity ratio of 55.71. The business’s 50-day simple moving average is C$18.13 and its two-hundred day simple moving average is C$14.78. The stock has a market cap of C$3.88 billion, a PE ratio of 18.97, a P/E/G ratio of 0.61 and a beta of 0.81.

CES Energy Solutions (TSE:CEU) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.24 earnings per share (EPS) for the quarter. CES Energy Solutions had a return on equity of 26.01% and a net margin of 8.29%.The firm had revenue of C$681.51 million during the quarter. As a group, analysts forecast that CES Energy Solutions will post 0.8600646 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Kenneth Earl Zinger sold 46,100 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of C$18.35, for a total value of C$845,935.00. Following the transaction, the insider directly owned 1,821,757 shares in the company, valued at C$33,429,240.95. This trade represents a 2.47% decrease in their position. Insiders sold 401,000 shares of company stock valued at $7,379,734 in the last quarter. 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.