CES Energy Solutions (TSE:CEU) Stock Price Breaks Above Fifty Day Moving Average - Here's Why

Key Points

• CES Energy Solutions shares rose 3.0% and moved above their 50-day moving average of C$19.26, reaching C$19.94 before last trading at C$19.71.
• Analyst sentiment is moderately positive: five analysts rate the stock Buy and three Hold, with a consensus price target of C$21.06. Recent targets ranged from C$19 to C$25.
• In quarterly results, the company reported C$0.18 EPS and C$714.08 million in revenue. Director John Michael Hooks sold 78,700 shares, reducing his stake by 9.09%.

CES Energy Solutions Corp. (TSE:CEU - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$19.26 and traded as high as C$19.94. CES Energy Solutions shares last traded at C$19.71, with a volume of 591,721 shares.

Analyst Upgrades and Downgrades

CEU has been the topic of a number of recent research reports. Scotia raised 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 note on Monday, August 10th. TD upped their target price 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. Raymond James Financial increased their target price on 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. National Bank Financial raised their price target on CES Energy Solutions from C$20.00 to C$24.00 and gave the stock an "outperform" rating in a research report on Monday, October 26th. Finally, ATB Cormark Capital Markets cut CES Energy Solutions from a "moderate buy" rating to a "hold" rating and raised their price target for the stock from C$21.00 to C$23.50 in a research report on Monday, October 26th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$21.06.

CES Energy Solutions Stock Up 3.0%

The firm's 50-day moving average price is C$19.26 and its 200 day moving average price is C$17.78. The company has a current ratio of 2.70, a quick ratio of 1.78 and a debt-to-equity ratio of 55.36. The company has a market capitalization of C$4.13 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 0.61 and a beta of 0.87.

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

Insiders Place Their Bets

In other CES Energy Solutions news, Director John Michael Hooks sold 78,700 shares of the firm's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of C$19.10, for a total value of C$1,503,170.00. Following the sale, the director 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. 3.03% of the stock is 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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