CES Energy Solutions (TSE:CEU) Hits New 52-Week High at $5.75

CES Energy Solutions Corp. (TSE:CEU) reached a new 52-week high during trading on Friday . The stock traded as high as C$5.75 and last traded at C$5.71, with a volume of 94376 shares changing hands. The stock had previously closed at C$5.66.

Wall Street Analyst Weigh In

CEU has been the subject of several research reports. ATB Capital lifted their price target on shares of CES Energy Solutions from C$5.25 to C$6.50 in a report on Wednesday, April 3rd. Raymond James lifted their price target on shares of CES Energy Solutions from C$6.50 to C$6.75 and gave the company a “strong-buy” rating in a report on Monday, March 4th. Royal Bank of Canada lifted their price target on shares of CES Energy Solutions from C$5.00 to C$5.50 and gave the company an “outperform” rating in a report on Friday, March 1st. Scotiabank lifted their price target on shares of CES Energy Solutions from C$5.30 to C$5.85 in a report on Monday, March 4th. Finally, BMO Capital Markets boosted their target price on shares of CES Energy Solutions from C$5.50 to C$6.00 in a research note on Thursday, March 28th. Six investment 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, CES Energy Solutions presently has a consensus rating of “Buy” and an average price target of C$6.11.

CES Energy Solutions Price Performance

The stock has a market capitalization of C$1.32 billion, a price-to-earnings ratio of 9.20, a price-to-earnings-growth ratio of 0.61 and a beta of 2.46. The business’s 50 day simple moving average is C$4.65 and its 200-day simple moving average is C$3.99. The company has a debt-to-equity ratio of 70.47, a quick ratio of 1.78 and a current ratio of 2.95.

CES Energy Solutions (TSE:CEU) last released its quarterly earnings results on Thursday, February 29th. The company reported C$0.20 EPS for the quarter, topping analysts’ consensus estimates of C$0.14 by C$0.06. CES Energy Solutions had a net margin of 7.15% and a return on equity of 24.41%. The company had revenue of C$553.46 million for the quarter, compared to the consensus estimate of C$538.23 million. Research analysts anticipate that CES Energy Solutions Corp. will post 0.6553738 earnings per share for the current year.

CES Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 15th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 2.14%. This is an increase from CES Energy Solutions’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, March 27th. CES Energy Solutions’s payout ratio is 19.67%.

Insiders Place Their Bets

In other CES Energy Solutions news, Director Kyle Kitagawa sold 50,000 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of C$5.33, for a total transaction of C$266,500.00. In related news, Director Kyle Kitagawa sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of C$5.33, for a total value of C$266,500.00. Also, insider EdgePoint Investment Group Inc. sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of C$5.55, for a total transaction of C$127,650.00. In the last three months, insiders have sold 498,360 shares of company stock worth $2,417,920. 2.35% 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.