Raymond James Trims Secure Energy Services (TSE:SES) Target Price to C$10.00

Secure Energy Services (TSE:SES) had its price target lowered by analysts at Raymond James from C$13.00 to C$10.00 in a report issued on Wednesday, BayStreet.CA reports. The brokerage currently has a “strong-buy” rating on the stock. Raymond James’ target price indicates a potential upside of 42.86% from the company’s current price.

Several other equities research analysts have also commented on SES. Cormark cut their price objective on Secure Energy Services from C$11.50 to C$11.00 in a research note on Wednesday, May 1st. Canaccord Genuity reduced their price objective on shares of Secure Energy Services from C$10.00 to C$9.50 in a research report on Wednesday. TD Securities reduced their price objective on shares of Secure Energy Services from C$11.50 to C$11.00 and set a “buy” rating for the company in a research report on Wednesday. CIBC raised their price objective on shares of Secure Energy Services from C$10.00 to C$10.50 in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a C$10.00 price objective on shares of Secure Energy Services in a research report on Wednesday, July 3rd. Four research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Secure Energy Services presently has a consensus rating of “Buy” and an average target price of C$10.33.

SES traded up C$0.02 on Wednesday, reaching C$7.00. 924,709 shares of the stock were exchanged, compared to its average volume of 355,522. The firm’s 50-day moving average is C$7.01. Secure Energy Services has a fifty-two week low of C$6.25 and a fifty-two week high of C$9.44. The company has a quick ratio of 1.25, a current ratio of 1.58 and a debt-to-equity ratio of 54.68. The stock has a market capitalization of $1.10 billion and a price-to-earnings ratio of 77.89.

Secure Energy Services (TSE:SES) last issued its quarterly earnings data on Monday, April 29th. The company reported C$0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.05 by C($0.04). The firm had revenue of C$788.88 million during the quarter, compared to analyst estimates of C$689.97 million. As a group, equities analysts anticipate that Secure Energy Services will post 0.28 earnings per share for the current year.

In other Secure Energy Services news, Director George Wadsworth sold 5,777 shares of Secure Energy Services stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of C$7.02, for a total value of C$40,554.54. Following the transaction, the director now owns 554,328 shares of the company’s stock, valued at C$3,891,382.56.

About Secure Energy Services

Secure Energy Services Inc provides integrated and specialized services to upstream oil and natural gas companies operating in the Western and the United States. The company's Processing, Recovery and Disposal division owns and operates midstream infrastructure that provides services, such as storing, shipping, clean oil terminalling, rail transloading, marketing of oil, treatment, oilfield waste processing, landfill disposal, and produced and waste water disposal, as well as the purchase and resale of oil.

Recommended Story: Day Trading – Risk Worth the Reward?

Analyst Recommendations for Secure Energy Services (TSE:SES)

Receive News & Ratings for Secure Energy Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Secure Energy Services and related companies with MarketBeat.com's FREE daily email newsletter.