CES Energy Solutions (TSE:CEU) Shares Up 9% Following Analyst Upgrade

CES Energy Solutions Corp. (TSE:CEU) shares rose 9% on Thursday after TD Securities raised their price target on the stock from C$7.00 to C$9.00. TD Securities currently has a buy rating on the stock. CES Energy Solutions traded as high as C$6.67 and last traded at C$6.54. Approximately 399,066 shares changed hands during trading, an increase of 7% from the average daily volume of 373,961 shares. The stock had previously closed at C$6.00.

A number of other brokerages have also issued reports on CEU. BMO Capital Markets boosted their target price on CES Energy Solutions from C$6.00 to C$8.00 in a research report on Tuesday, April 23rd. Raymond James boosted their price objective on 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. ATB Capital raised their target price on CES Energy Solutions from C$5.25 to C$6.50 in a report on Wednesday, April 3rd. Stifel Nicolaus boosted their price target on shares of CES Energy Solutions from C$7.50 to C$8.50 in a research note on Thursday. Finally, Royal Bank of Canada increased their price target on shares of CES Energy Solutions from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of C$7.14.

Insider Buying and Selling

In other CES Energy Solutions news, insider EdgePoint Investment Group Inc. sold 23,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of C$5.55, for a total transaction of C$127,650.00. In other CES Energy Solutions news, Senior Officer Anthony Michael Aulicino sold 150,360 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of C$4.71, for a total transaction of C$708,060.28. Also, insider EdgePoint Investment Group Inc. sold 23,000 shares of the company’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of C$5.55, for a total transaction of C$127,650.00. Over the last ninety days, insiders have sold 498,360 shares of company stock worth $2,417,920. Company insiders own 2.35% of the company’s stock.

CES Energy Solutions Stock Performance

The company has a market cap of C$1.51 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 0.61 and a beta of 2.46. The firm has a 50-day simple moving average of C$5.23 and a 200 day simple moving average of C$4.24. The company has a quick ratio of 1.78, a current ratio of 2.95 and a debt-to-equity ratio of 70.47.

CES Energy Solutions (TSE:CEU) last issued its quarterly earnings results on Thursday, February 29th. The company reported C$0.20 earnings per share 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 firm had revenue of C$553.46 million during the quarter, compared to analysts’ expectations of C$538.23 million. On average, sell-side analysts predict that CES Energy Solutions Corp. will post 0.6391403 earnings per share for the current fiscal year.

CES Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 15th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.87%. This is a positive change from CES Energy Solutions’s previous quarterly dividend of $0.03. CES Energy Solutions’s dividend payout ratio (DPR) is currently 19.67%.

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.