CES Energy Solutions (TSE:CEU) Price Target Raised to C$19.00 at TD

Key Points

• TD raised its price target on CES Energy Solutions to C$19.00 (from C$18.00) while maintaining a "hold" rating, implying roughly a 6.44% upside from the prior close.
• Multiple analysts have boosted targets (RBC to C$22, Raymond James to C$21), leaving a consensus rating of Moderate Buy with a consensus target of C$17.93 and four Buys versus three Holds.
• Recent quarter: EPS of C$0.24 on C$681.51M revenue with an 8.21% net margin and 25.37% ROE; insiders sold 401,000 shares (~C$7.38M) last quarter, including a 205,000-share sale at C$18.41.

CES Energy Solutions (TSE:CEU - Get Free Report) had its price objective upped by equities researchers at TD from C$18.00 to C$19.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. TD's target price would indicate a potential upside of 6.44% from the company's previous close.

CEU has been the topic of a number of other reports. BMO Capital Markets lowered CES Energy Solutions from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 11th. ATB Cormark Capital Markets raised their price target on CES Energy Solutions from C$14.50 to C$16.50 and gave the company an "outperform" rating in a report on Monday, January 26th. Raymond James Financial raised their price target on CES Energy Solutions from C$15.00 to C$21.00 in a report on Thursday, March 12th. Royal Bank Of Canada raised their price target on CES Energy Solutions from C$20.00 to C$22.00 and gave the company an "outperform" rating in a report on Tuesday, April 14th. Finally, Scotiabank upped their target price on CES Energy Solutions from C$12.25 to C$16.00 in a research report on Thursday, January 29th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$17.93.

CES Energy Solutions Stock Performance

CEU traded down C$0.15 on Friday, hitting C$17.85. 476,741 shares of the company's stock were exchanged, compared to its average volume of 971,185. CES Energy Solutions has a twelve month low of C$5.75 and a twelve month high of C$19.58. The company has a current ratio of 2.86, a quick ratio of 1.78 and a debt-to-equity ratio of 60.08. The stock has a fifty day moving average of C$18.00 and a two-hundred day moving average of C$14.46. The firm has a market cap of C$3.74 billion, a PE ratio of 19.40, a P/E/G ratio of 0.61 and a beta of 0.81.

CES Energy Solutions (TSE:CEU - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported C$0.24 EPS for the quarter. CES Energy Solutions had a net margin of 8.21% and a return on equity of 25.37%. The company had revenue of C$681.51 million for the quarter. On average, research analysts anticipate that CES Energy Solutions will post 0.8600646 earnings per share for the current fiscal year.

Insider Transactions at CES Energy Solutions

In other news, insider Kenneth Earl Zinger sold 205,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of C$18.41, for a total value of C$3,774,050.00. Insiders sold 401,000 shares of company stock worth $7,379,734 over the last quarter. 3.03% of the stock is owned by 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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