CES Energy Solutions (TSE:CEU) Given New C$19.00 Price Target at TD

Key Points

• TD raised CES Energy Solutions’ price target from C$18.00 to C$19.00 while maintaining a “hold” rating; the target implied 6.59% downside from the prior close.
• Analyst sentiment is more positive overall, with six Buy ratings and two Holds producing a “Moderate Buy” consensus and an average target of C$19.83. Other brokerages set targets between C$20.00 and C$25.00.
• CES shares were flat at C$20.34, near their 12-month high of C$20.63. The company reported quarterly EPS of C$0.18 on revenue of C$714.08 million, while a director sold 78,700 shares for approximately C$1.5 million.

CES Energy Solutions (TSE:CEU - Get Free Report) had its price objective raised by TD from C$18.00 to C$19.00 in a research note issued to investors on Tuesday, BayStreet reports. The brokerage presently has a "hold" rating on the stock. TD's price target would indicate a potential downside of 6.59% from the company's previous close.

CEU has been the topic of a number of other research reports. BMO Capital Markets raised CES Energy Solutions from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from C$21.00 to C$22.00 in a report on Wednesday, June 24th. Scotia lifted their target price on CES Energy Solutions from C$21.00 to C$22.00 and gave the company a "sector outperform" rating in a report on Monday, August 10th. National Bank Financial raised shares of CES Energy Solutions from a "hold" rating to an "outperform" rating and set a C$20.00 price target on the stock in a report on Friday, August 7th. Finally, Raymond James Financial raised their price objective on shares of CES Energy Solutions from C$23.00 to C$25.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of C$19.83.

CES Energy Solutions Price Performance

Shares of TSE:CEU remained flat at C$20.34 during trading on Tuesday. The company's stock had a trading volume of 259,236 shares, compared to its average volume of 740,091. CES Energy Solutions has a 12-month low of C$8.65 and a 12-month high of C$20.63. The firm's 50-day moving average is C$18.90 and its 200 day moving average is C$17.87. The company has a current ratio of 2.70, a quick ratio of 1.78 and a debt-to-equity ratio of 55.36. The firm has a market cap of C$4.27 billion, a P/E ratio of 22.11, a PEG ratio of 0.61 and a beta of 0.94.

CES Energy Solutions (TSE:CEU - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$0.18 earnings per share for the quarter. CES Energy Solutions had a return on equity of 23.68% and a net margin of 7.36%. The company had revenue of C$714.08 million during the quarter. Sell-side analysts forecast that CES Energy Solutions will post 0.86 EPS for the current fiscal 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 shares were sold at an average price of C$19.10, for a total transaction of C$1,503,170.00. Following the completion of the sale, the director directly owned 787,351 shares in the company, valued at approximately C$15,038,404.10. This represents a 9.09% decrease in their ownership of the stock. Company insiders own 3.03% of the company's stock.

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.

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