CES Energy Solutions (TSE:CEU) Announces Earnings Results

CES Energy Solutions (TSE:CEU) released its earnings results on Thursday. The company reported C$0.35 EPS for the quarter, FiscalAI reports. The firm had revenue of C$784.82 million for the quarter. CES Energy Solutions had a net margin of 7.36% and a return on equity of 23.68%.

CES Energy Solutions Trading Up 5.7%

CEU stock traded up C$1.14 during midday trading on Friday, hitting C$21.28. The stock had a trading volume of 542,591 shares, compared to its average volume of 728,047. The firm has a market cap of C$4.46 billion, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 0.61 and a beta of 0.87. The company has a current ratio of 2.70, a quick ratio of 1.78 and a debt-to-equity ratio of 55.36. CES Energy Solutions has a 1-year low of C$9.45 and a 1-year high of C$22.00. The business has a fifty day moving average price of C$19.28 and a two-hundred day moving average price of C$17.81.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CEU shares. Scotia raised their price objective on CES Energy Solutions from C$21.00 to C$22.00 and gave the company a “sector outperform” rating in a report on Monday, August 10th. National Bank Financial upped their target price on CES Energy Solutions from C$20.00 to C$24.00 and gave the stock an “outperform” rating in a report on Monday, October 26th. Raymond James Financial upped their target price on CES Energy Solutions from C$23.00 to C$25.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. ATB Cormark Capital Markets downgraded 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 research report on Monday, October 26th. Finally, TD lifted their price target on CES Energy Solutions from C$18.00 to C$19.00 and gave the company a “hold” rating in a research note on Tuesday, October 20th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, CES Energy Solutions currently has a consensus rating of “Moderate Buy” and a consensus price target of C$21.06.

Insider Buying and Selling

In other news, Director John Michael Hooks sold 78,700 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of C$19.10, for a total value of C$1,503,170.00. Following the transaction, the director directly owned 787,351 shares of the company’s stock, valued at C$15,038,404.10. The trade was a 9.09% decrease in their position. Company insiders own 3.03% of the company’s stock.

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.