CES Energy Solutions (TSE:CEU) Hits New 1-Year High – Here’s Why

CES Energy Solutions Corp. (TSE:CEU) shares reached a new 52-week high on Friday. The company traded as high as C$22.00 and last traded at C$21.04, with a volume of 116,076 shares. The stock had previously closed at C$20.14.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. TD increased their price target on CES Energy Solutions from C$18.00 to C$19.00 and gave the company a “hold” rating in a research note on Tuesday, October 20th. Raymond James Financial boosted their price objective on CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Scotia boosted their price objective on CES Energy Solutions from C$21.00 to C$22.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 10th. National Bank Financial upped their price objective on CES Energy Solutions from C$20.00 to C$24.00 and gave the company an “outperform” rating in a report on Monday, October 26th. Finally, ATB Cormark Capital Markets cut CES Energy Solutions from a “moderate buy” rating to a “hold” rating and raised their target price for the company from C$21.00 to C$23.50 in a research note on Monday, October 26th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, CES Energy Solutions has a consensus rating of “Moderate Buy” and a consensus target price of C$21.06.

CES Energy Solutions Price Performance

The stock has a 50-day moving average of C$19.28 and a two-hundred day moving average of C$17.81. The firm has a market cap of C$4.44 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 0.61 and a beta of 0.87. The company has a current ratio of 2.70, a quick ratio of 1.78 and a debt-to-equity ratio of 55.36.

CES Energy Solutions (TSE:CEU) last announced its earnings results on Thursday, November 12th. The company reported C$0.35 EPS for the quarter. CES Energy Solutions had a net margin of 7.36% and a return on equity of 23.68%. The company had revenue of C$784.82 million during the quarter. On average, analysts anticipate that CES Energy Solutions Corp. will post 0.86 EPS for the current year.

Insider Activity at CES Energy Solutions

In other news, Director John Michael Hooks sold 78,700 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at C$15,038,404.10. This trade represents a 9.09% decrease in their ownership of the stock. Company insiders own 3.03% of the company’s stock.

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.