CES Energy Solutions (TSE:CEU) Sets New 1-Year High – Still a Buy?

CES Energy Solutions Corp. (TSE:CEU) shares hit a new 52-week high during mid-day trading on Wednesday. The stock traded as high as C$21.12 and last traded at C$20.93, with a volume of 60,691 shares traded. The stock had previously closed at C$20.50.

Analysts Set New Price Targets

Several analysts have weighed in on CEU shares. Raymond James Financial boosted their price target on shares of CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. National Bank Financial raised their price objective on CES Energy Solutions from C$20.00 to C$24.00 and gave the company an “outperform” rating in a research note on Monday. TD lifted their price objective on CES Energy Solutions from C$18.00 to C$19.00 and gave the stock a “hold” rating in a report on Tuesday, October 20th. Scotia boosted their target price on CES Energy Solutions from C$21.00 to C$22.00 and gave the company a “sector outperform” rating in a research note on Monday, August 10th. Finally, ATB Cormark Capital Markets cut CES Energy Solutions from a “moderate buy” rating to a “hold” rating and increased their target price for the company from C$21.00 to C$23.50 in a report on Monday. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$21.06.

CES Energy Solutions Trading Down 0.2%

The company has a quick ratio of 1.78, a current ratio of 2.70 and a debt-to-equity ratio of 55.36. The stock’s fifty day moving average price is C$19.12 and its two-hundred day moving average price is C$17.53. The company has a market capitalization of C$4.37 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 0.61 and a beta of 0.94.

CES Energy Solutions (TSE:CEU) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$0.18 earnings per share (EPS) for the quarter. CES Energy Solutions had a return on equity of 23.68% and a net margin of 7.36%. The company had revenue of C$714.08 million for the quarter. Sell-side analysts anticipate that CES Energy Solutions Corp. will post 0.86 earnings per share for the current year.

Insider Transactions at CES Energy Solutions

In related news, Director John Michael Hooks sold 87,640 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of C$18.98, for a total value of C$1,663,407.20. Following 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. 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.