CES Energy Solutions (TSE:CEU) Shares Pass Above 200 Day Moving Average – Here’s What Happened

CES Energy Solutions Corp. (TSE:CEU) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$15.48 and traded as high as C$17.88. CES Energy Solutions shares last traded at C$17.67, with a volume of 276,661 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. BMO Capital Markets cut CES Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 11th. Raymond James Financial lifted their target price on CES Energy Solutions from C$15.00 to C$21.00 in a report on Thursday, March 12th. Royal Bank Of Canada lifted their target price on CES Energy Solutions from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. TD lifted 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 Friday, May 8th. Finally, National Bank Financial cut CES Energy Solutions from an “outperform” rating to a “sector perform” rating and set a C$20.00 target price on the stock. in a report on Wednesday, May 13th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, CES Energy Solutions presently has a consensus rating of “Hold” and an average target price of C$18.64.

CES Energy Solutions Stock Up 0.8%

The company has a debt-to-equity ratio of 55.71, a current ratio of 2.75 and a quick ratio of 1.78. The firm has a market cap of C$3.76 billion, a PE ratio of 18.37, a P/E/G ratio of 0.61 and a beta of 0.81. The business has a fifty day moving average price of C$18.16 and a two-hundred day moving average price of C$15.60.

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

Insiders Place Their Bets

In other news, insider Kenneth Earl Zinger sold 205,000 shares of CES Energy Solutions stock in a transaction on Thursday, March 19th. The stock was sold at an average price of C$18.41, for a total transaction of C$3,774,050.00. Also, Director John Michael Hooks sold 133,800 shares of CES Energy Solutions stock in a transaction on Friday, May 22nd. The shares were sold at an average price of C$18.92, for a total value of C$2,531,496.00. Following the transaction, the director owned 902,565 shares in the company, valued at C$17,076,529.80. This represents a 12.91% decrease in their position. Insiders have sold 534,800 shares of company stock worth $9,911,230 in the last quarter. 3.03% of the stock is currently owned by corporate insiders.

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.