CES Energy Solutions (TSE:CEU) Sets New 52-Week High – Here’s What Happened

CES Energy Solutions Corp. (TSE:CEU) hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as C$20.21 and last traded at C$19.91, with a volume of 411,609 shares trading hands. The stock had previously closed at C$20.06.

Analyst Ratings Changes

CEU has been the topic of a number of research analyst reports. Raymond James Financial lifted their target price on CES Energy Solutions from C$23.00 to C$25.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Scotia lifted 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. TD decreased their target price on CES Energy Solutions from C$19.00 to C$18.00 and set a “hold” rating for the company in a report on Monday, July 13th. National Bank Financial raised shares of CES Energy Solutions from a “hold” rating to an “outperform” rating and set a C$20.00 target price for the company in a research report on Friday, August 7th. Finally, BMO Capital Markets upgraded shares of CES Energy Solutions from a “market perform” rating to an “outperform” rating and raised their price target for the company from C$21.00 to C$22.00 in a report on Wednesday, June 24th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$19.72.

CES Energy Solutions Trading Down 1.4%

The business’s 50-day moving average is C$18.70 and its two-hundred day moving average is C$17.84. The company has a current ratio of 2.70, a quick ratio of 1.78 and a debt-to-equity ratio of 55.36. The stock has a market capitalization of C$4.15 billion, a PE ratio of 21.49, a PEG ratio of 0.61 and a beta of 0.94.

CES Energy Solutions (TSE:CEU) last released its quarterly earnings data on Thursday, August 6th. The company reported C$0.18 EPS for the quarter. The company had revenue of C$714.08 million for the quarter. CES Energy Solutions had a return on equity of 23.68% and a net margin of 7.36%. On average, analysts predict that CES Energy Solutions Corp. will post 0.86 earnings per share for the current year.

Insider Buying and Selling at CES Energy Solutions

In other news, Director John Michael Hooks sold 78,700 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of C$19.10, for a total value of C$1,503,170.00. Following the completion of the sale, the director owned 787,351 shares in the company, valued at approximately C$15,038,404.10. This trade represents a 9.09% decrease in their ownership of the stock. 3.03% of the stock is owned by insiders.

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.