CES Energy Solutions (TSE:CEU) Stock Rating Lowered by ATB Cormark Capital Markets

Key Points

• ATB Cormark downgraded CES Energy Solutions from “outperform” to “sector perform,” while raising its price target from C$21.00 to C$23.50, implying 14.47% potential upside.
• Analyst sentiment remains generally positive: five analysts rate the stock a Buy and three rate it a Hold, producing a consensus rating of “Moderate Buy” and an average price 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 EPS of C$0.18 on revenue of C$714.08 million, with a 7.36% net margin and 23.68% return on equity.

CES Energy Solutions (TSE:CEU - Get Free Report) was downgraded by equities research analysts at ATB Cormark Capital Markets from an "outperform" rating to a "sector perform" rating in a report released on Monday, BayStreet reports. They presently have a C$23.50 target price on the stock, up from their prior target price of C$21.00. ATB Cormark Capital Markets's price target would indicate a potential upside of 14.47% from the company's previous close.

A number of other brokerages also recently commented on CEU. TD raised their target price on shares of 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 upped their price target on shares of CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an "outperform" rating in a research report on Monday, August 10th. Scotia increased their price target 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. Finally, National Bank Financial raised CES Energy Solutions from a "hold" rating to an "outperform" rating and set a C$20.00 price objective on the stock in a research report on Friday, August 7th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$21.06.

CES Energy Solutions Trading Up 2.4%

CEU traded up C$0.49 on Monday, reaching C$20.53. 178,389 shares of the company's stock were exchanged, compared to its average volume of 739,343. 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 market cap of C$4.31 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 0.61 and a beta of 0.94. CES Energy Solutions has a twelve month low of C$9.17 and a twelve month high of C$20.83. The company has a debt-to-equity ratio of 55.36, a quick ratio of 1.78 and a current ratio of 2.70.

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 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 analysts predict that CES Energy Solutions will post 0.86 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John Michael Hooks sold 78,700 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately C$15,038,404.10. This trade represents a 9.09% decrease in their position. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.