CES Energy Solutions (TSE:CEU) Share Price Passes Above 200-Day Moving Average – Here’s Why

CES Energy Solutions Corp. (TSE:CEU) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$15.81 and traded as high as C$17.55. CES Energy Solutions shares last traded at C$16.83, with a volume of 371,404 shares traded.

Wall Street Analysts Forecast Growth

CEU has been the topic of several research reports. BMO Capital Markets downgraded CES Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 11th. Raymond James Financial increased their price target on CES Energy Solutions from C$15.00 to C$21.00 in a research note on Thursday, March 12th. TD raised their price objective on CES Energy Solutions from C$18.00 to C$19.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Royal Bank Of Canada raised their price objective on CES Energy Solutions from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. Finally, National Bank Financial downgraded CES Energy Solutions from an “outperform” rating to a “sector perform” rating and set a C$20.00 price objective on the stock. in a research note on Wednesday, May 13th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$18.64.

CES Energy Solutions Price Performance

The company has a market cap of C$3.55 billion, a P/E ratio of 17.35, a PEG ratio of 0.61 and a beta of 0.52. The company has a fifty day moving average price of C$18.04 and a two-hundred day moving average price of C$15.81. The company has a debt-to-equity ratio of 55.71, a quick ratio of 1.78 and a current ratio of 2.75.

CES Energy Solutions (TSE:CEU) last issued its earnings results on Thursday, May 7th. The company reported C$0.24 earnings per share (EPS) for the quarter. CES Energy Solutions had a net margin of 8.29% and a return on equity of 26.01%. The business had revenue of C$681.51 million during the quarter. On average, sell-side analysts anticipate that CES Energy Solutions Corp. will post 0.8600646 earnings per share for the current fiscal year.

Insider Activity at CES Energy Solutions

In other CES Energy Solutions news, Director John Michael Hooks sold 133,800 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of C$18.92, for a total transaction of C$2,531,496.00. Following the completion of the sale, the director directly owned 902,565 shares in the company, valued at C$17,076,529.80. This trade represents a 12.91% decrease in their ownership of the stock. Also, insider Kenneth Earl Zinger sold 46,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of C$18.35, for a total transaction of C$845,935.00. Following the sale, the insider owned 1,821,757 shares of the company’s stock, valued at C$33,429,240.95. This trade represents a 2.47% decrease in their ownership of the stock. Insiders have sold 534,800 shares of company stock valued at $9,911,230 over the last 90 days. 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.