Raymond James Increases CES Energy Solutions (TSE:CEU) Price Target to C$8.50

CES Energy Solutions (TSE:CEU) had its target price upped by research analysts at Raymond James from C$6.75 to C$8.50 in a research note issued on Friday, BayStreet.CA reports. Raymond James’ price objective would indicate a potential upside of 30.17% from the company’s previous close. Raymond James also issued estimates for CES Energy Solutions’ FY2024 earnings at $0.70 EPS.

Several other research firms have also weighed in on CEU. ATB Capital increased their target price on shares of CES Energy Solutions from C$5.25 to C$6.50 in a report on Wednesday, April 3rd. Royal Bank of Canada increased their price objective on shares of CES Energy Solutions from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a research report on Friday, March 1st. BMO Capital Markets increased their price objective on shares of CES Energy Solutions from C$6.00 to C$8.00 in a research report on Tuesday, April 23rd. Scotiabank increased their price objective on shares of CES Energy Solutions from C$5.30 to C$5.85 in a research report on Monday, March 4th. Finally, Stifel Nicolaus increased their price objective on shares of CES Energy Solutions from C$7.50 to C$8.50 in a research report on Thursday. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, CES Energy Solutions currently has an average rating of “Buy” and a consensus price target of C$7.36.

CES Energy Solutions Trading Up 1.6 %

CEU opened at C$6.53 on Friday. The firm’s fifty day moving average is C$5.26 and its two-hundred day moving average is C$4.27. The company has a debt-to-equity ratio of 70.47, a quick ratio of 1.78 and a current ratio of 2.95. The firm has a market cap of C$1.53 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 0.61 and a beta of 2.46. CES Energy Solutions has a twelve month low of C$2.30 and a twelve month high of C$6.67.

CES Energy Solutions (TSE:CEU) last posted its earnings results on Thursday, February 29th. The company reported C$0.20 earnings per share for the quarter, topping the consensus estimate of C$0.14 by C$0.06. The company had revenue of C$553.46 million for the quarter, compared to analyst estimates of C$538.23 million. CES Energy Solutions had a net margin of 7.15% and a return on equity of 24.41%. Equities research analysts anticipate that CES Energy Solutions will post 0.6391403 EPS for the current year.

Insider Activity at CES Energy Solutions

In related news, insider EdgePoint Investment Group Inc. sold 23,000 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of C$5.55, for a total value of C$127,650.00. In other news, Senior Officer Kenneth Earl Zinger sold 45,000 shares of CES Energy Solutions stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of C$4.73, for a total value of C$212,850.00. Also, insider EdgePoint Investment Group Inc. sold 23,000 shares of CES Energy Solutions stock in a transaction dated Friday, April 5th. The shares were sold at an average price of C$5.55, for a total transaction of C$127,650.00. Over the last 90 days, insiders sold 498,360 shares of company stock valued at $2,417,920. Corporate insiders own 2.35% of the company’s stock.

CES Energy Solutions Company Profile

CES Energy Solutions Corp., together with its subsidiaries, engages in design, implement, and manufacture of advanced consumable fluids and specialty chemicals in the United States and Canada. The company provides solutions for drill-bit, point of completion and stimulation, wellhead and pump-jack, and pipeline and midstream markets.