CES Energy Solutions (TSE:CEU) Reaches New 52-Week High – Here’s What Happened

CES Energy Solutions Corp. (TSE:CEU)’s share price hit 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.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CEU shares. Royal Bank of Canada upped their price target on shares of CES Energy Solutions from C$10.00 to C$11.00 in a research report on Thursday. Raymond James lifted their price target on CES Energy Solutions from C$10.50 to C$10.75 in a report on Tuesday, October 15th. National Bankshares upped their price objective on CES Energy Solutions from C$7.00 to C$9.25 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. TD Securities lifted their target price on CES Energy Solutions from C$9.00 to C$9.50 in a research note on Wednesday, July 17th. Finally, Scotiabank increased their price target on shares of CES Energy Solutions from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$9.97.

CES Energy Solutions Stock Up 10.0 %

The company has a market cap of C$2.19 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 0.61 and a beta of 2.31. The business has a fifty day moving average of C$7.68 and a two-hundred day moving average of C$7.30. The company has a current ratio of 3.18, a quick ratio of 1.78 and a debt-to-equity ratio of 51.40.

CES Energy Solutions (TSE:CEU) last announced its earnings results on Thursday, August 8th. The company reported C$0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of C$553.20 million for the quarter, compared to analysts’ expectations of C$544.70 million. As a group, equities analysts anticipate that CES Energy Solutions Corp. will post 0.8600646 EPS for the current fiscal year.

CES Energy Solutions Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date was Friday, September 27th. This represents a $0.12 annualized dividend and a yield of 1.28%. CES Energy Solutions’s dividend payout ratio is presently 15.38%.

Insider Buying and Selling at CES Energy Solutions

In other CES Energy Solutions news, Director John Michael Hooks sold 300,000 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of C$7.23, for a total transaction of C$2,167,680.00. In other CES Energy Solutions news, Director John Michael Hooks sold 300,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of C$7.23, for a total value of C$2,167,680.00. Also, Director Michael Hallat sold 22,610 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of C$7.71, for a total value of C$174,357.02. In the last quarter, insiders sold 400,478 shares of company stock worth $2,927,940. Insiders own 3.03% of the company’s stock.

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.