CES Energy Solutions (TSE:CEU) Given New C$25.00 Price Target at Raymond James Financial

Key Points

• Raymond James raised CES Energy Solutions’ price target to C$25 from C$23 and maintained an “outperform” rating, implying approximately 34% upside from the prior close.
• Analyst sentiment is broadly positive: six analysts rate the stock a Buy and two rate it Hold, producing a “Moderate Buy” consensus and an average price target of C$19.72.
• CES shares rose 1.7% to C$18.65, while the company reported quarterly revenue of C$681.51 million and earnings of C$0.24 per share. Insiders sold 205,683 shares worth about C$3.68 million during the last quarter.

CES Energy Solutions (TSE:CEU - Get Free Report) had its price target boosted by equities researchers at Raymond James Financial from C$23.00 to C$25.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Raymond James Financial's price target would indicate a potential upside of 34.05% from the stock's previous close.

Several other equities analysts have also recently commented on CEU. Royal Bank Of Canada lifted their target price on shares of CES Energy Solutions from C$20.00 to C$22.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 14th. National Bank Financial raised CES Energy Solutions from a "hold" rating to an "outperform" rating and set a C$20.00 price target for the company in a research report on Friday. BMO Capital Markets raised CES Energy Solutions from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from C$21.00 to C$22.00 in a research report on Wednesday, June 24th. Scotia upped their price objective on CES Energy Solutions from C$21.00 to C$22.00 and gave the company a "sector outperform" rating in a research note on Monday. Finally, TD cut their price target on shares of CES Energy Solutions from C$19.00 to C$18.00 and set a "hold" rating on the stock in a report on Monday, July 13th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of C$19.72.

CES Energy Solutions Stock Up 1.7%

Shares of CEU stock traded up C$0.32 on Monday, hitting C$18.65. The stock had a trading volume of 314,868 shares, compared to its average volume of 789,239. The business has a 50 day moving average of C$16.62 and a 200 day moving average of C$17.00. The stock has a market cap of C$3.93 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 0.61 and a beta of 0.50. The company has a debt-to-equity ratio of 55.36, a current ratio of 2.70 and a quick ratio of 1.78. CES Energy Solutions has a 12-month low of C$7.33 and a 12-month high of C$19.58.

CES Energy Solutions (TSE:CEU - Get Free Report) 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 net margin of 7.36% and a return on equity of 23.68%. The business had revenue of C$681.51 million for the quarter. As a group, analysts expect that CES Energy Solutions will post 0.8600646 EPS for the current year.

Insiders Place Their Bets

In other CES Energy Solutions 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 transaction of C$2,531,496.00. Following the completion of the transaction, the director directly owned 902,565 shares of the company's stock, valued at approximately C$17,076,529.80. This represents a 12.91% decrease in their ownership of the stock. Also, insider Mihir Patel sold 12,184 shares of the firm's stock in a transaction on Monday, July 6th. The stock was sold at an average price of C$16.04, for a total value of C$195,431.36. Following the completion of the sale, the insider directly owned 16,571 shares of the company's stock, valued at C$265,798.84. This represents a 42.37% decrease in their ownership of the stock. Insiders have sold 205,683 shares of company stock valued at $3,684,499 in the last quarter. 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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