Scotia Issues Positive Forecast for CES Energy Solutions (TSE:CEU) Stock Price

Key Points

• Scotia raised its price target for CES Energy Solutions from C$21.00 to C$22.00 while maintaining a “sector outperform” rating, implying approximately 18% upside from the current price.
• Analyst sentiment is broadly positive: six analysts rate the stock a Buy and two rate it a Hold, resulting in a “Moderate Buy” consensus and an average target price of C$19.72.
• CES Energy Solutions shares rose 1.7% to C$18.65, while insiders sold 205,683 shares worth approximately C$3.68 million over the past three months.

CES Energy Solutions (TSE:CEU - Get Free Report) had its price target raised by Scotia from C$21.00 to C$22.00 in a research report issued on Monday,BayStreet.CA reports. The firm currently has a "sector outperform" rating on the stock. Scotia's price target would suggest a potential upside of 17.96% from the company's current price.

Other equities analysts have also issued research reports about the company. Royal Bank Of Canada boosted their price objective on CES Energy Solutions from C$20.00 to C$22.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 14th. 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 on the stock in a research report on Friday. BMO Capital Markets raised shares of CES Energy Solutions from a "market perform" rating to an "outperform" rating and upped their price objective for the company from C$21.00 to C$22.00 in a report on Wednesday, June 24th. Finally, TD cut their price objective 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. Six investment 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.com, CES Energy Solutions presently has an average rating of "Moderate Buy" and an average target price of C$19.72.

CES Energy Solutions Stock Up 1.7%

CES Energy Solutions stock traded up C$0.32 during mid-day trading on Monday, reaching C$18.65. 314,868 shares of the company were exchanged, compared to its average volume of 789,239. The company has a debt-to-equity ratio of 55.36, a quick ratio of 1.78 and a current ratio of 2.70. The firm has a market cap of C$3.93 billion, a P/E ratio of 19.23, a PEG ratio of 0.61 and a beta of 0.50. The business has a fifty day moving average of C$16.62 and a 200 day moving average of C$17.00. CES Energy Solutions has a 12-month low of C$7.33 and a 12-month high of C$19.58.

CES Energy Solutions (TSE:CEU - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported C$0.24 earnings per share for the quarter. The firm had revenue of C$681.51 million during the quarter. CES Energy Solutions had a return on equity of 23.68% and a net margin of 7.36%. Research analysts anticipate 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 David Allyn Burroughs sold 28,815 shares of the firm's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of C$16.04, for a total transaction of C$462,192.60. Also, insider James Farnsworth Strickland sold 4,044 shares of CES Energy Solutions stock in a transaction dated Monday, July 6th. The shares were sold at an average price of C$16.04, for a total value of C$64,865.76. Following the completion of the transaction, the insider directly owned 38,231 shares of the company's stock, valued at approximately C$613,225.24. This represents a 9.57% decrease in their ownership of the stock. In the last three months, insiders have sold 205,683 shares of company stock worth $3,684,499. 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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