CES Energy Solutions (TSE:CEU) Given New C$21.00 Price Target at Raymond James Financial

CES Energy Solutions (TSE:CEU) had its target price upped by Raymond James Financial from C$15.00 to C$21.00 in a report issued on Thursday,BayStreet.CA reports. Raymond James Financial’s price target indicates a potential upside of 13.51% from the stock’s current price.

CEU has been the subject of several other reports. TD Securities downgraded CES Energy Solutions from a “buy” rating to a “hold” rating and raised their price objective for the company from C$12.00 to C$16.00 in a research note on Monday, January 26th. National Bank Financial increased their price objective on shares of CES Energy Solutions from C$13.00 to C$15.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. ATB Cormark Capital Markets lifted their target price 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. BMO Capital Markets lowered shares of CES Energy Solutions from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Scotiabank upped their target price on CES Energy Solutions from C$12.25 to C$16.00 in a research note on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$14.93.

CES Energy Solutions Stock Performance

Shares of CEU stock traded up C$0.26 during mid-day trading on Thursday, hitting C$18.50. 1,001,239 shares of the stock were exchanged, compared to its average volume of 834,042. The stock has a market capitalization of C$3.93 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 0.61 and a beta of 1.00. CES Energy Solutions has a 12-month low of C$5.59 and a 12-month high of C$18.99. The stock’s fifty day simple moving average is C$14.92 and its two-hundred day simple moving average is C$11.83. The company has a debt-to-equity ratio of 61.70, a quick ratio of 1.78 and a current ratio of 3.02.

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