Royal Bank Of Canada Issues Positive Forecast for CES Energy Solutions (TSE:CEU) Stock Price

Key Points

• Royal Bank of Canada raised its price target on CES Energy Solutions from C$20 to C$22 and maintained an "outperform" rating, implying roughly a 24% upside from the prior close.
• Overall analyst sentiment is a Moderate Buy with an average target of C$16.50 after several firms lifted targets, though TD Securities downgraded the stock to "hold."
• Shares traded down to C$17.74 (down ~3%), the company reported C$0.53 EPS on C$664.5M revenue last quarter, and insiders have sold 401,000 shares in the past 90 days (insiders now own 3.03%).

CES Energy Solutions (TSE:CEU - Get Free Report) had its price objective lifted by equities research analysts at Royal Bank Of Canada from C$20.00 to C$22.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 24.01% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. ATB Cormark Capital Markets increased their price target on shares of 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 increased their price target on shares of CES Energy Solutions from C$15.00 to C$21.00 in a report on Thursday, March 12th. TD Securities cut shares of CES Energy Solutions from a "buy" rating to a "hold" rating and increased their price target for the company from C$12.00 to C$16.00 in a report on Monday, January 26th. Scotiabank increased their price target on shares of CES Energy Solutions from C$12.25 to C$16.00 in a report on Thursday, January 29th. Finally, National Bank Financial increased their price target on shares of CES Energy Solutions from C$13.00 to C$15.00 and gave the company an "outperform" rating in a report on Friday, January 9th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$16.50.

CES Energy Solutions Stock Down 3.0%

Shares of TSE:CEU traded down C$0.55 during trading on Tuesday, reaching C$17.74. 236,265 shares of the stock traded hands, compared to its average volume of 1,056,114. The stock has a 50-day moving average of C$17.17 and a two-hundred day moving average of C$13.42. CES Energy Solutions has a 52-week low of C$5.75 and a 52-week high of C$19.58. The company has a debt-to-equity ratio of 60.08, a quick ratio of 1.78 and a current ratio of 2.86. The stock has a market cap of C$3.72 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 0.61 and a beta of 0.70.

CES Energy Solutions (TSE:CEU - Get Free Report) last posted its quarterly earnings results on Tuesday, March 10th. The company reported C$0.53 EPS for the quarter. CES Energy Solutions had a net margin of 8.21% and a return on equity of 25.37%. The firm had revenue of C$664.51 million for the quarter. As a group, sell-side analysts expect that CES Energy Solutions will post 0.8600646 earnings per share for the current fiscal year.

Insider Transactions at CES Energy Solutions

In related news, insider Kenneth Earl Zinger sold 46,100 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of C$18.35, for a total value of C$845,935.00. Following the sale, the insider owned 1,821,757 shares in the company, valued at approximately C$33,429,240.95. This trade represents a 2.47% decrease in their ownership of the stock. Insiders have sold a total of 401,000 shares of company stock valued at $7,379,734 in the last 90 days. Company insiders own 3.03% of the company's stock.

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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