CES Energy Solutions (TSE:CEU) Share Price Passes Above 200 Day Moving Average – What’s Next?

CES Energy Solutions Corp. (TSE:CEU) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$15.48 and traded as high as C$17.88. CES Energy Solutions shares last traded at C$17.67, with a volume of 276,661 shares.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. BMO Capital Markets cut CES Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 11th. National Bank Financial cut CES Energy Solutions from an “outperform” rating to a “sector perform” rating and set a C$20.00 price target on the stock. in a report on Wednesday, May 13th. Royal Bank Of Canada boosted their price target on CES Energy Solutions from C$20.00 to C$22.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Raymond James Financial boosted their price target on CES Energy Solutions from C$15.00 to C$21.00 in a report on Thursday, March 12th. Finally, TD boosted their price target on CES Energy Solutions from C$18.00 to C$19.00 and gave the stock a “hold” rating in a report on Friday, May 8th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$18.64.

CES Energy Solutions Trading Up 1.0%

The stock has a market cap of C$3.73 billion, a PE ratio of 18.22, a PEG ratio of 0.61 and a beta of 0.81. The company has a debt-to-equity ratio of 55.71, a quick ratio of 1.78 and a current ratio of 2.75. The stock has a fifty day moving average price of C$18.19 and a 200 day moving average price of C$15.48.

CES Energy Solutions (TSE:CEU) last announced its earnings results on Thursday, May 7th. The company reported C$0.24 EPS for the quarter. CES Energy Solutions had a return on equity of 26.01% and a net margin of 8.29%.The firm had revenue of C$681.51 million during the quarter. Equities analysts expect that CES Energy Solutions Corp. will post 0.8600646 EPS for the current year.

Insiders Place Their Bets

In related news, insider Kenneth Earl Zinger sold 205,000 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of C$18.41, for a total transaction of C$3,774,050.00. Also, Director John Michael Hooks sold 133,800 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of C$18.92, for a total value of C$2,531,496.00. Following the transaction, the director owned 902,565 shares of the company’s stock, valued at approximately C$17,076,529.80. The trade was a 12.91% decrease in their position. In the last 90 days, insiders have sold 534,800 shares of company stock valued at $9,911,230. 3.03% of the stock is owned by company insiders.

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.