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

CES Energy Solutions (TSE:CEU) had its target price lifted by analysts at Royal Bank of Canada from C$10.00 to C$11.00 in a research report issued on Thursday,BayStreet.CA reports. Royal Bank of Canada’s price objective indicates a potential upside of 18.15% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. TD Securities raised their price target on CES Energy Solutions from C$9.00 to C$9.50 in a report on Wednesday, July 17th. Raymond James raised their price target on CES Energy Solutions from C$10.50 to C$10.75 in a report on Tuesday, October 15th. National Bankshares raised their price target on CES Energy Solutions from C$7.00 to C$9.25 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Scotiabank lifted their target price on CES Energy Solutions from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Finally, ATB Capital lifted their target price on CES Energy Solutions from C$8.50 to C$9.75 in a report on Friday, August 9th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$9.97.

CES Energy Solutions Trading Up 9.7 %

CEU traded up C$0.82 during trading on Thursday, reaching C$9.31. The company had a trading volume of 1,082,638 shares, compared to its average volume of 588,622. The stock has a market cap of C$2.18 billion, a P/E ratio of 11.91, a PEG ratio of 0.61 and a beta of 2.31. The business has a 50 day simple moving average of C$7.68 and a 200-day simple moving average of C$7.30. CES Energy Solutions has a 52 week low of C$3.28 and a 52 week high of C$9.34. The company has a quick ratio of 1.78, a current ratio of 3.18 and a debt-to-equity ratio of 51.40.

CES Energy Solutions (TSE:CEU) last released its earnings results on Thursday, August 8th. The company reported C$0.20 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.25 by C($0.05). The business had revenue of C$553.20 million during the quarter, compared to analysts’ expectations of C$544.70 million. CES Energy Solutions had a return on equity of 27.17% and a net margin of 8.53%. On average, equities analysts anticipate that CES Energy Solutions will post 0.8600646 EPS for the current fiscal year.

Insider Buying and Selling

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 stock was sold at an average price of C$7.52, for a total value of C$32,952.64. In related news, Director John Michael Hooks sold 4,382 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of C$7.52, for a total transaction of C$32,952.64. Also, Senior Officer Kenneth Earl Zinger sold 72,786 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of C$7.52, for a total value of C$547,350.72. Insiders have sold 400,478 shares of company stock valued at $2,927,940 over the last quarter. Company insiders own 3.03% of the company’s stock.

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.