CES Energy Solutions (TSE:CEU) Hits New 1-Year High – Here’s Why

CES Energy Solutions Corp. (TSE:CEU) reached a new 52-week high during trading on Wednesday . The company traded as high as C$9.43 and last traded at C$9.40, with a volume of 2253798 shares changing hands. The stock had previously closed at C$9.00.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CEU shares. National Bankshares boosted their target price on shares of CES Energy Solutions from C$7.00 to C$9.25 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Raymond James raised their price target on shares of CES Energy Solutions from C$10.50 to C$10.75 in a research report on Tuesday, October 15th. BMO Capital Markets boosted their price objective on CES Energy Solutions from C$10.00 to C$12.00 in a report on Friday, August 9th. ATB Capital boosted their price target on CES Energy Solutions from C$8.50 to C$9.75 in a report on Friday, August 9th. Finally, Scotiabank upped their price target on CES Energy Solutions from C$9.00 to C$10.50 in a report on Monday, November 11th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$10.16.

CES Energy Solutions Price Performance

The company has a current ratio of 3.18, a quick ratio of 1.78 and a debt-to-equity ratio of 51.40. The company has a 50 day moving average of C$7.91 and a 200 day moving average of C$7.52. The firm has a market cap of C$2.23 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 0.61 and a beta of 2.31.

CES Energy Solutions (TSE:CEU) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.14 by C$0.06. The firm had revenue of C$606.52 million during the quarter, compared to the consensus estimate of C$582.25 million. CES Energy Solutions had a net margin of 8.53% and a return on equity of 27.17%. Equities research analysts predict that CES Energy Solutions Corp. will post 0.8600646 EPS for the current fiscal year.

CES Energy Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.12 annualized dividend and a yield of 1.26%. CES Energy Solutions’s payout ratio is 15.38%.

Insider Transactions at CES Energy Solutions

In other news, Senior Officer Kenneth Earl Zinger sold 72,786 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of C$7.52, for a total transaction of C$547,350.72. Also, Director John Michael Hooks sold 300,000 shares of CES Energy Solutions stock in a transaction on 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. Insiders have sold 472,732 shares of company stock worth $3,584,982 in the last 90 days. 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.