EdgePoint Investment Group Inc. Acquires 477,897 Shares of CES Energy Solutions Corp. (TSE:CEU) Stock

CES Energy Solutions Corp. (TSE:CEU) insider EdgePoint Investment Group Inc. acquired 477,897 shares of the company’s stock in a transaction on Monday, March 18th. The shares were bought at an average price of C$4.72 per share, with a total value of C$2,255,673.84.

CES Energy Solutions Price Performance

CES Energy Solutions stock opened at C$4.67 on Thursday. The business’s 50-day simple moving average is C$4.33 and its 200 day simple moving average is C$3.87. The stock has a market cap of C$1.09 billion, a price-to-earnings ratio of 7.66, a P/E/G ratio of 0.61 and a beta of 2.43. CES Energy Solutions Corp. has a 12-month low of C$2.30 and a 12-month high of C$4.88. The company has a quick ratio of 1.78, a current ratio of 2.95 and a debt-to-equity ratio of 70.47.

CES Energy Solutions (TSE:CEU) last posted its quarterly earnings results on Thursday, February 29th. The company reported C$0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.14 by C$0.06. The business had revenue of C$553.46 million for the quarter, compared to analysts’ expectations of C$538.23 million. CES Energy Solutions had a return on equity of 24.41% and a net margin of 7.15%. As a group, research analysts anticipate that CES Energy Solutions Corp. will post 0.654979 earnings per share for the current year.

CES Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 15th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.12 dividend on an annualized basis and a yield of 2.57%. This is a boost from CES Energy Solutions’s previous quarterly dividend of $0.03. CES Energy Solutions’s dividend payout ratio (DPR) is 19.67%.

Wall Street Analysts Forecast Growth

CEU has been the subject of several recent analyst reports. Stifel Nicolaus increased their price objective on CES Energy Solutions from C$5.00 to C$5.50 and gave the stock a “buy” rating in a research note on Friday, March 1st. ATB Capital raised their target price on CES Energy Solutions from C$5.00 to C$5.25 and gave the company an “outperform” rating in a research note on Friday, March 1st. TD Securities raised their target price on CES Energy Solutions from C$5.00 to C$6.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Scotiabank raised their target price on CES Energy Solutions from C$5.30 to C$5.85 in a research note on Monday, March 4th. Finally, Royal Bank of Canada raised their target price on CES Energy Solutions from C$5.00 to C$5.50 and gave the company an “outperform” rating in a research note on Friday, March 1st. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CES Energy Solutions currently has an average rating of “Buy” and an average price target of C$5.43.

CES Energy Solutions Company Profile

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.