CES Energy Solutions (TSE:CEU) Sets New 1-Year High – Here’s What Happened

CES Energy Solutions Corp. (TSE:CEU) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$8.39 and last traded at C$8.24, with a volume of 538582 shares. The stock had previously closed at C$8.15.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. BMO Capital Markets increased their target price on shares of CES Energy Solutions from C$10.00 to C$12.00 in a research note on Friday, August 9th. ATB Capital increased their target price on shares of CES Energy Solutions from C$8.50 to C$9.75 in a report on Friday, August 9th. Raymond James raised their price target on shares of CES Energy Solutions from C$10.50 to C$10.75 in a report on Tuesday, October 15th. TD Securities raised their target price on shares of CES Energy Solutions from C$9.00 to C$9.50 in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada raised their target price on shares of CES Energy Solutions from C$9.00 to C$10.00 in a research report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$9.84.

CES Energy Solutions Price Performance

The firm’s 50-day moving average is C$7.66 and its 200-day moving average is C$7.26. The company has a debt-to-equity ratio of 51.40, a current ratio of 3.18 and a quick ratio of 1.78. The company has a market capitalization of C$1.91 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 0.61 and a beta of 2.31.

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

CES Energy Solutions Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Friday, September 27th. CES Energy Solutions’s payout ratio is 15.38%.

Insider Activity at CES Energy Solutions

In other CES Energy Solutions news, Director Michael Hallat sold 22,610 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of C$7.71, for a total transaction of C$174,357.02. In other news, Director Michael Hallat sold 22,610 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of C$7.71, for a total value of C$174,357.02. Also, Director John Michael Hooks sold 4,382 shares of CES Energy Solutions stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of C$7.52, for a total transaction of C$32,952.64. Insiders have sold a total of 400,478 shares of company stock valued at $2,927,940 over the last 90 days. 3.03% of the stock is owned by corporate insiders.

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.