CES Energy Solutions (TSE:CEU) Share Price Passes Above 200 Day Moving Average – What’s Next?

CES Energy Solutions Corp. (TSE:CEU) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$15.81 and traded as high as C$17.55. CES Energy Solutions shares last traded at C$16.83, with a volume of 371,404 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CEU. Raymond James Financial raised their target price on CES Energy Solutions from C$15.00 to C$21.00 in a research note on Thursday, March 12th. TD boosted 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. BMO Capital Markets downgraded shares of CES Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 11th. Royal Bank Of Canada raised their price objective on shares of CES Energy Solutions from C$20.00 to C$22.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Finally, National Bank Financial cut shares of CES Energy Solutions from an “outperform” rating to a “sector perform” rating and set a C$20.00 price objective on the stock. in a research note on Wednesday, May 13th. Three equities research 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 a consensus target price of C$18.64.

CES Energy Solutions Stock Up 0.5%

The company has a current ratio of 2.75, a quick ratio of 1.78 and a debt-to-equity ratio of 55.71. The firm has a market capitalization of C$3.54 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 0.61 and a beta of 0.52. The stock has a fifty day moving average of C$17.99 and a 200-day moving average of C$15.86.

CES Energy Solutions (TSE:CEU) last released 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 during the quarter. As a group, sell-side analysts expect that CES Energy Solutions Corp. will post 0.8600646 EPS for the current year.

Insiders Place Their Bets

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