CES Energy Solutions (TSE:CEU) Stock Price Breaks Below 200 Day Moving Average - Here's What Happened

Key Points

• CES Energy Solutions shares fell below their 200-day moving average, reaching C$17.77 before last trading at C$18.48; the 200-day average is C$17.82.
• Analyst sentiment remains positive overall: six analysts rate the stock a Buy and two rate it a Hold, producing a “Moderate Buy” consensus and a C$19.72 average price target.
• The company reported quarterly revenue of C$714.08 million and earnings of C$0.18 per share, while director John Michael Hooks sold 87,640 shares for approximately C$1.66 million.

CES Energy Solutions Corp. (TSE:CEU - Get Free Report) shares passed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of C$17.82 and traded as low as C$17.77. CES Energy Solutions shares last traded at C$18.48, with a volume of 363,872 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. National Bank Financial raised shares of 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, August 7th. BMO Capital Markets upgraded shares of CES Energy Solutions from a "market perform" rating to an "outperform" rating and increased their price objective for the company from C$21.00 to C$22.00 in a research note on Wednesday, June 24th. Scotia raised their price objective 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. TD dropped their target price on shares of CES Energy Solutions from C$19.00 to C$18.00 and set a "hold" rating for the company in a research report on Monday, July 13th. Finally, Raymond James Financial upped their target price on shares of CES Energy Solutions from C$23.00 to C$25.00 and gave the company an "outperform" rating in a research note on Monday, August 10th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, CES Energy Solutions presently has a consensus rating of "Moderate Buy" and a consensus target price of C$19.72.

CES Energy Solutions Stock Performance

The stock's 50-day moving average price is C$18.41 and its 200-day moving average price is C$17.82. 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$3.88 billion, a P/E ratio of 20.09, 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 data 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 business had revenue of C$714.08 million during the quarter. As a group, equities analysts expect that CES Energy Solutions Corp. will post 0.8600646 EPS for the current year.

Insider Transactions at CES Energy Solutions

In related news, Director John Michael Hooks sold 87,640 shares of the business's stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of C$18.98, for a total transaction of C$1,663,407.20. Following the completion of the transaction, the director owned 866,051 shares in the company, valued at C$16,437,647.98. The trade was a 9.19% decrease in their position. 3.03% of the stock is owned by corporate 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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