CES Energy Solutions (TSE:CEU) Stock Price Target Raised at National Bank Financial

Key Points

• National Bank Financial raised CES Energy Solutions’ price target from C$20.00 to C$24.00 and maintained an “outperform” rating, implying 16.9% upside from the current price.
• Analyst sentiment remains positive overall, with five Buy ratings and three Holds producing a “Moderate Buy” consensus and an average target of C$21.06.
• CES shares rose 2.4% to C$20.53, near their 52-week high of C$20.83. The company reported quarterly revenue of C$714.08 million and EPS of C$0.18, while an insider recently sold 78,700 shares.

CES Energy Solutions (TSE:CEU - Get Free Report) had its price target lifted by equities researchers at National Bank Financial from C$20.00 to C$24.00 in a report released on Monday, BayStreet reports. The firm presently has an "outperform" rating on the stock. National Bank Financial's price objective indicates a potential upside of 16.90% from the company's current price.

A number of other brokerages also recently weighed in on CEU. TD lifted their target price on shares of CES Energy Solutions from C$18.00 to C$19.00 and gave the stock a "hold" rating in a research note on Tuesday, October 20th. Raymond James Financial upped their price target 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. ATB Cormark Capital Markets downgraded CES Energy Solutions from an "outperform" rating to a "sector perform" rating and increased their price target for the stock from C$21.00 to C$23.50 in a report on Monday. Finally, Scotia lifted 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 report on Monday, August 10th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, CES Energy Solutions has an average rating of "Moderate Buy" and a consensus target price of C$21.06.

CES Energy Solutions Trading Up 2.4%

TSE:CEU traded up C$0.49 on Monday, reaching C$20.53. 178,389 shares of the stock traded hands, compared to its average volume of 739,343. The firm has a market capitalization of C$4.31 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 0.61 and a beta of 0.94. The company's 50 day moving average is C$18.98 and its 200-day moving average is C$17.95. 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 has a 1-year low of C$9.17 and a 1-year high of C$20.83.

CES Energy Solutions (TSE:CEU - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$0.18 earnings per share (EPS) for the quarter. CES Energy Solutions had a net margin of 7.36% and a return on equity of 23.68%. The firm had revenue of C$714.08 million for the quarter. Equities research analysts anticipate that CES Energy Solutions will post 0.86 EPS for the current fiscal year.

Insider Activity at CES Energy Solutions

In other news, Director John Michael Hooks sold 78,700 shares of CES Energy Solutions stock in a transaction on Thursday, September 10th. The shares were 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 in the company, valued at C$15,038,404.10. The trade was a 9.09% decrease in their position. 3.03% of the stock is currently owned by company 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.

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