Royal Bank of Canada Forecasts Strong Price Appreciation for CES Energy Solutions (TSE:CEU) Stock

CES Energy Solutions (TSE:CEU) had its price objective raised by Royal Bank of Canada from C$10.00 to C$11.00 in a report released on Thursday,BayStreet.CA reports. Royal Bank of Canada’s price objective indicates a potential upside of 21.95% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of CES Energy Solutions from C$10.00 to C$12.00 in a report on Friday, August 9th. Scotiabank boosted their price target on shares of CES Energy Solutions from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. National Bankshares raised their price objective on CES Energy Solutions from C$7.00 to C$9.25 and gave the company a “sector perform” rating in a report on Monday, July 29th. TD Securities upped their target price on CES Energy Solutions from C$9.00 to C$9.50 in a report on Wednesday, July 17th. Finally, ATB Capital raised their price target on CES Energy Solutions from C$8.50 to C$9.75 in a research note on Friday, August 9th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CES Energy Solutions has an average rating of “Buy” and an average price target of C$9.97.

CES Energy Solutions Trading Down 3.4 %

CEU opened at C$9.02 on Thursday. The firm’s fifty day simple moving average is C$7.73 and its 200 day simple moving average is C$7.34. The stock has a market capitalization of C$2.11 billion, a P/E ratio of 11.56, a P/E/G ratio of 0.61 and a beta of 2.31. The company has a current ratio of 3.18, a quick ratio of 1.78 and a debt-to-equity ratio of 51.40. CES Energy Solutions has a 12 month low of C$3.28 and a 12 month high of C$9.43.

CES Energy Solutions (TSE:CEU) last posted its quarterly earnings data on Thursday, August 8th. The company reported C$0.20 earnings per share for the quarter, missing the consensus estimate of C$0.25 by C($0.05). CES Energy Solutions had a return on equity of 27.17% and a net margin of 8.53%. The firm had revenue of C$553.20 million for the quarter, compared to analyst estimates of C$544.70 million. As a group, research analysts anticipate that CES Energy Solutions will post 0.8600646 EPS for the current fiscal year.

Insider Buying and Selling at CES Energy Solutions

In other CES Energy Solutions news, Director John Michael Hooks sold 4,382 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of C$7.52, for a total value of C$32,952.64. In related news, Senior Officer Kenneth Earl Zinger sold 72,786 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of C$7.52, for a total value of C$547,350.72. Also, Director John Michael Hooks sold 4,382 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of C$7.52, for a total value of C$32,952.64. Insiders sold 400,478 shares of company stock valued at $2,927,940 in the last quarter. 3.03% of the stock is currently owned by insiders.

About CES Energy Solutions

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.