CES Energy Solutions (TSE:CEU) Hits New 12-Month High - Should You Buy?

Key Points

• CES Energy Solutions shares reached a new 52-week high, trading as high as C$21.12 and closing around C$20.93, up from C$20.50.
• Analyst sentiment remains broadly positive, with five Buy ratings and three Holds; the average rating is “Moderate Buy” and the average price target is C$21.06, though targets range from C$19.00 to C$25.00.
• The company reported quarterly revenue of C$714.08 million and EPS of C$0.18, while a director sold 78,700 shares worth approximately C$1.5 million, reducing his position by 9.09%.

CES Energy Solutions Corp. (TSE:CEU - Get Free Report) shares reached a new 52-week high on Wednesday. The company traded as high as C$21.12 and last traded at C$20.93, with a volume of 60,691 shares traded. The stock had previously closed at C$20.50.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CEU shares. TD increased their price target on CES Energy Solutions from C$18.00 to C$19.00 and gave the company a "hold" rating in a research report on Tuesday, October 20th. Scotia boosted their price target on shares of CES Energy Solutions from C$21.00 to C$22.00 and gave the stock a "sector outperform" rating in a report on Monday, August 10th. National Bank Financial increased their price target on shares of CES Energy Solutions from C$20.00 to C$24.00 and gave the company an "outperform" rating in a research report on Monday. Raymond James Financial raised their price objective on shares of CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Finally, ATB Cormark Capital Markets downgraded shares of CES Energy Solutions from a "moderate buy" rating to a "hold" rating and raised their price objective for the stock from C$21.00 to C$23.50 in a report on Monday. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of C$21.06.

CES Energy Solutions Trading Up 1.7%

The firm's 50 day moving average is C$19.04 and its 200 day moving average is C$17.44. The company has a debt-to-equity ratio of 55.36, a current ratio of 2.70 and a quick ratio of 1.78. The company has a market cap of C$4.37 billion, a PE ratio of 22.65, a PEG ratio of 0.61 and a beta of 0.94.

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

Insider Activity

In other news, Director John Michael Hooks sold 78,700 shares of the stock in a transaction that occurred 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 transaction, the director owned 787,351 shares in the company, valued at C$15,038,404.10. This represents a 9.09% decrease in their position. 3.03% of the stock is currently owned by insiders.

About CES Energy Solutions

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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