Raymond James Financial Reaffirms “Strong-Buy” Rating for CES Energy Solutions (CEU)

CES Energy Solutions (TSE:CEU)‘s stock had its “strong-buy” rating restated by research analysts at Raymond James Financial in a research note issued on Friday. They presently have a C$8.50 price objective on the stock. Raymond James Financial’s price target would indicate a potential upside of 60.38% from the stock’s current price.

Separately, GMP Securities raised their price target on CES Energy Solutions from C$8.00 to C$9.00 in a report on Wednesday, October 18th.

CES Energy Solutions (TSE CEU) opened at C$5.30 on Friday. The company has a market capitalization of $1,420.00, a P/E ratio of 53.00 and a beta of 0.97. CES Energy Solutions has a 52-week low of C$4.94 and a 52-week high of C$7.34.

CES Energy Solutions (TSE:CEU) last posted its earnings results on Thursday, November 9th. The company reported C$0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.04 by C$0.03. The business had revenue of C$260.88 million during the quarter, compared to the consensus estimate of C$257.55 million. CES Energy Solutions had a return on equity of 13.37% and a net margin of 7.45%.

In related news, insider Kenneth Earl Zinger sold 10,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of C$5.87, for a total transaction of C$58,700.00. Also, Director Burton Joel Ahrens sold 5,000 shares of CES Energy Solutions stock in a transaction on Friday, December 1st. The shares were sold at an average price of C$6.19, for a total value of C$30,950.00. Insiders have sold a total of 31,229 shares of company stock valued at $189,362 over the last ninety days.

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About CES Energy Solutions

CES Energy Solutions Corp, formerly Canadian Energy Services & Technology Corp, is a Canada-based provider of technically advanced consumable chemical solutions throughout the lifecycle of the oilfield. The Company offers total solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and through to the pipeline and midstream market.

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