CES Energy Solutions (CESDF) Gets a Buy Rating from RBC Capital

In a report issued on May 12, Keith Mackey from RBC Capital maintained a Buy rating on CES Energy Solutions (CESDFResearch Report), with a price target of C$2.75. The company’s shares closed last Thursday at $1.39.

Mackey has an average return of 24.9% when recommending CES Energy Solutions.

According to TipRanks.com, Mackey is ranked #1237 out of 7492 analysts.

Currently, the analyst consensus on CES Energy Solutions is a Strong Buy with an average price target of $2.16, a 57.7% upside from current levels. In a report issued on May 12, Canaccord Genuity also maintained a Buy rating on the stock with a C$2.75 price target.

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Based on CES Energy Solutions’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $213 million and net profit of $40.45 million. In comparison, last year the company earned revenue of $316 million and had a net profit of $11.91 million.

Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CESDF in relation to earlier this year.

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CES Energy Solutions Corp. engages in the provision of consumable chemical solutions throughout the life-cycle of the oilfield. Its operations include Drilling Fluids, Production Chemicals, Transportation & Logistics, Environmental Services, and Laboratory Services. The company was founded on November 13, 1986 and is headquartered in Calgary, Canada.