CES Energy Solutions (TSE:CEU) Trading 4.2% Higher After Analyst Upgrade

CES Energy Solutions Corp. (TSE:CEU)’s share price traded up 4.2% during mid-day trading on Friday after TD Securities raised their price target on the stock from C$5.00 to C$5.50. TD Securities currently has a buy rating on the stock. CES Energy Solutions traded as high as C$3.77 and last traded at C$3.70. 185,167 shares traded hands during trading, a decline of 60% from the average session volume of 461,548 shares. The stock had previously closed at C$3.55.

CEU has been the topic of several other research reports. ATB Capital increased their price objective on CES Energy Solutions from C$4.75 to C$5.00 and gave the stock an “outperform” rating in a research report on Friday. Stifel Nicolaus increased their price objective on CES Energy Solutions from C$5.00 to C$5.25 in a research report on Tuesday, October 24th. National Bank Financial reiterated an “outperform market weight” rating on shares of CES Energy Solutions in a research report on Wednesday, October 25th. Finally, Royal Bank of Canada raised their price target on CES Energy Solutions from C$3.75 to C$4.25 and gave the stock an “outperform” rating in a research report on Friday, August 11th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, CES Energy Solutions currently has an average rating of “Buy” and an average price target of C$4.53.

CES Energy Solutions Stock Performance

The company has a debt-to-equity ratio of 73.83, a current ratio of 3.64 and a quick ratio of 1.78. The stock has a 50-day simple moving average of C$3.74 and a 200-day simple moving average of C$3.09. The stock has a market cap of C$960.92 million, a P/E ratio of 7.74, a PEG ratio of 0.61 and a beta of 2.39.

CES Energy Solutions (TSE:CEU) last released its earnings results on Thursday, August 10th. The company reported C$0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.11 by C$0.02. CES Energy Solutions had a return on equity of 22.70% and a net margin of 6.10%. The firm had revenue of C$515.84 million for the quarter, compared to analysts’ expectations of C$507.70 million. Research analysts forecast that CES Energy Solutions Corp. will post 0.6098361 earnings per share for the current year.

CES Energy Solutions Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, September 28th. CES Energy Solutions’s payout ratio is 20.00%.

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. It provides solutions for drill-bit, point of completion and stimulation, wellhead and pump-jack, and pipeline and midstream markets.