Raymond James Financial Downgrades Secure Energy Services (TSE:SES) to Market Perform

Key Points

• Raymond James downgraded Secure Energy Services from "outperform" to "market perform" while raising its price target to C$24.75 (from C$22.00), implying about an 11.7% upside.
• Several other brokers also raised targets but kept neutral ratings (market perform/sector perform/hold); the consensus from MarketBeat is a "Hold" rating with an average price target of C$22.91.
• Shares traded down 1.2% to C$22.16 on heavy volume; the company has a C$4.80B market cap, a high debt-to-equity ratio (145.08) and a P/E of 41.04, indicating elevated leverage and valuation.

Secure Energy Services (TSE:SES - Get Free Report) was downgraded by stock analysts at Raymond James Financial from an "outperform" rating to a "market perform" rating in a research note issued to investors on Tuesday,BayStreet.CA reports. They presently have a C$24.75 price target on the stock, up from their previous price target of C$22.00. Raymond James Financial's price target suggests a potential upside of 11.69% from the company's previous close.

SES has been the topic of a number of other research reports. BMO Capital Markets lifted their target price on Secure Energy Services from C$19.00 to C$20.00 and gave the company a "market perform" rating in a research report on Monday, February 23rd. ATB Cormark Capital Markets lifted their target price on Secure Energy Services from C$21.00 to C$23.00 and gave the company a "hold" rating in a research report on Monday, February 23rd. Scotiabank lifted their target price on Secure Energy Services from C$20.00 to C$21.00 and gave the company a "sector perform" rating in a research report on Monday, February 23rd. Royal Bank Of Canada boosted their price objective on Secure Energy Services from C$18.00 to C$21.00 and gave the company a "sector perform" rating in a report on Monday, February 23rd. Finally, National Bank Financial boosted their price objective on Secure Energy Services from C$19.00 to C$21.00 and gave the company a "sector perform" rating in a report on Monday, February 23rd. Seven analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of C$22.91.

Secure Energy Services Trading Down 1.2%

TSE:SES traded down C$0.28 on Tuesday, reaching C$22.16. The company's stock had a trading volume of 2,629,375 shares, compared to its average volume of 689,873. Secure Energy Services has a 12-month low of C$12.46 and a 12-month high of C$23.90. The company has a quick ratio of 1.10, a current ratio of 1.21 and a debt-to-equity ratio of 145.08. The firm has a market cap of C$4.80 billion, a price-to-earnings ratio of 41.04, a price-to-earnings-growth ratio of 0.17 and a beta of 0.27. The stock has a 50 day moving average price of C$20.23 and a 200 day moving average price of C$18.69.

Secure Energy Services Company Profile

SECURE is a leading waste management and energy infrastructure business headquartered in Calgary, Alberta. The Corporation's extensive infrastructure network located throughout western Canada and North Dakota includes waste processing and transfer facilities, industrial landfills, metal recycling facilities, crude oil and water gathering pipelines, crude oil terminals and storage facilities. Through this infrastructure network, the Corporation carries out its principal business operations, including the collection, processing, recovery, recycling and disposal of waste streams generated by our energy and industrial customers and gathering, optimization, terminalling and storage of crude oil and natural gas liquids.

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