CES Energy Solutions (TSE:CEU) Posts Quarterly Earnings Results

CES Energy Solutions (TSE:CEU) posted its quarterly earnings data on Thursday. The company reported C$0.24 earnings per share for the quarter, FiscalAI reports. The firm had revenue of C$681.51 million during the quarter. CES Energy Solutions had a net margin of 8.21% and a return on equity of 25.37%.

CES Energy Solutions Trading Down 1.2%

Shares of CES Energy Solutions stock opened at C$17.79 on Friday. CES Energy Solutions has a 1 year low of C$5.75 and a 1 year 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 company has a market capitalization of C$3.73 billion, a P/E ratio of 19.34, a PEG ratio of 0.61 and a beta of 0.81. The company’s fifty day moving average is C$18.00 and its two-hundred day moving average is C$14.46.

Insider Transactions at CES Energy Solutions

In other news, insider Kenneth Earl Zinger sold 205,000 shares of CES Energy Solutions stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of C$18.41, for a total value of C$3,774,050.00. Over the last quarter, insiders have sold 401,000 shares of company stock worth $7,379,734. Company insiders own 3.03% of the company’s stock.

Wall Street Analysts Forecast Growth

CEU has been the topic of a number of research reports. BMO Capital Markets lowered shares of CES Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 11th. Royal Bank Of Canada increased their target price on shares of CES Energy Solutions from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Raymond James Financial raised their price objective on shares of CES Energy Solutions from C$15.00 to C$21.00 in a report on Thursday, March 12th. National Bank Financial raised their price objective 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. Finally, TD raised their price objective on shares of CES Energy Solutions from C$18.00 to C$19.00 and gave the company a “hold” rating in a report on Friday. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, CES Energy Solutions presently has an average rating of “Moderate Buy” and an average price target of C$17.93.

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.