CES Energy Solutions (TSE:CEU) Downgraded by BMO Capital Markets to “Hold”

BMO Capital Markets downgraded shares of CES Energy Solutions (TSE:CEU) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

Several other brokerages also recently weighed in on CEU. Scotiabank upped their target price on shares of CES Energy Solutions from C$12.25 to C$16.00 in a research note on Thursday, January 29th. Raymond James Financial downgraded shares of CES Energy Solutions from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, November 17th. ATB Cormark Capital Markets boosted their price objective on shares of CES Energy Solutions from C$14.50 to C$16.50 and gave the stock an “outperform” rating in a report on Monday, January 26th. TD Securities cut shares of CES Energy Solutions from a “buy” rating to a “hold” rating and upped their price objective for the company from C$12.00 to C$16.00 in a research report on Monday, January 26th. Finally, National Bank Financial raised their target price on CES Energy Solutions from C$13.00 to C$15.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$13.92.

CES Energy Solutions Stock Performance

Shares of TSE:CEU opened at C$18.24 on Wednesday. The business’s 50-day simple moving average is C$14.92 and its 200 day simple moving average is C$11.83. The company has a market cap of C$3.88 billion, a P/E ratio of 23.09, a PEG ratio of 0.61 and a beta of 1.00. The company has a debt-to-equity ratio of 61.70, a quick ratio of 1.78 and a current ratio of 3.02. CES Energy Solutions has a one year low of C$5.59 and a one year high of C$18.99.

CES Energy Solutions (TSE:CEU) last released its quarterly earnings results on Tuesday, March 10th. The company reported C$0.53 earnings per share for the quarter. CES Energy Solutions had a return on equity of 22.00% and a net margin of 7.32%. On average, sell-side analysts forecast that CES Energy Solutions will post 0.8600646 earnings per share for the current fiscal year.

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.