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

CES Energy Solutions Corp. (TSE:CEU) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$9.78 and last traded at C$9.49, with a volume of 708161 shares changing hands. The stock had previously closed at C$9.77.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. ATB Capital lifted their price target on shares of CES Energy Solutions from C$8.50 to C$9.75 in a research report on Friday, August 9th. Scotiabank increased their price target on CES Energy Solutions from C$9.00 to C$10.50 in a research note on Monday, November 11th. BMO Capital Markets lifted their price objective on CES Energy Solutions from C$10.00 to C$12.00 in a research note on Friday, August 9th. Royal Bank of Canada increased their target price on CES Energy Solutions from C$10.00 to C$11.00 in a research note on Thursday, November 7th. Finally, Raymond James raised their target price on CES Energy Solutions from C$10.50 to C$10.75 in a report on Tuesday, October 15th. One equities research 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. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$10.16.

CES Energy Solutions Stock Performance

The firm has a market cap of C$2.22 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 0.61 and a beta of 2.31. The stock’s 50-day moving average price is C$8.15 and its 200 day moving average price is C$7.66. The company has a debt-to-equity ratio of 51.40, a current ratio of 3.18 and a quick ratio of 1.78.

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

CES Energy Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.12 dividend on an annualized basis and a yield of 1.26%. CES Energy Solutions’s dividend payout ratio (DPR) is currently 15.38%.

Insider Activity at CES Energy Solutions

In other CES Energy Solutions news, Director John Michael Hooks sold 300,000 shares of the company’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. Also, Director Michael Hallat sold 22,610 shares of CES Energy Solutions stock in a transaction 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. Insiders sold 472,732 shares of company stock worth $3,584,982 in the last ninety days. 3.03% of the stock is owned by company insiders.

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