Research Analysts Issue Forecasts for Secure Energy Services Inc.’s FY2024 Earnings (TSE:SES)

Secure Energy Services Inc. (TSE:SES) – Investment analysts at Cormark upped their FY2024 earnings per share estimates for shares of Secure Energy Services in a research report issued to clients and investors on Tuesday, April 30th. Cormark analyst B. Watson now expects that the company will post earnings of $2.07 per share for the year, up from their prior forecast of $1.92. Cormark currently has a “Buy” rating and a $14.00 price target on the stock. The consensus estimate for Secure Energy Services’ current full-year earnings is $0.67 per share.

Secure Energy Services (TSE:SES) last issued its quarterly earnings results on Monday, February 26th. The company reported C$0.20 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.20. Secure Energy Services had a return on equity of 15.91% and a net margin of 2.36%. The business had revenue of C$451.00 million for the quarter, compared to the consensus estimate of C$429.00 million.

A number of other analysts have also recently weighed in on SES. National Bankshares boosted their price target on Secure Energy Services from C$12.00 to C$13.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. BMO Capital Markets boosted their price target on Secure Energy Services from C$13.00 to C$14.00 in a research report on Tuesday, April 23rd. Stifel Nicolaus boosted their price target on Secure Energy Services from C$12.50 to C$13.50 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Raymond James lifted their price objective on Secure Energy Services from C$13.25 to C$13.50 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, ATB Capital lifted their price objective on Secure Energy Services from C$13.00 to C$14.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$13.25.

Secure Energy Services Price Performance

SES opened at C$11.51 on Thursday. The stock has a market cap of C$3.22 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 0.17 and a beta of 2.58. Secure Energy Services has a 1 year low of C$5.81 and a 1 year high of C$11.92. The company has a current ratio of 2.52, a quick ratio of 1.10 and a debt-to-equity ratio of 92.92. The stock has a fifty day moving average price of C$11.35 and a 200 day moving average price of C$9.80.

Secure Energy Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.40 annualized dividend and a yield of 3.48%. Secure Energy Services’s dividend payout ratio is 61.54%.

Insider Activity at Secure Energy Services

In related news, Senior Officer Michael Wayne Callihoo sold 8,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of C$11.25, for a total transaction of C$90,000.00. In other news, Director Rene Amirault sold 731,807 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of C$11.35, for a total value of C$8,302,496.78. Also, Senior Officer Michael Wayne Callihoo sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of C$11.25, for a total value of C$90,000.00. Insiders have sold 816,914 shares of company stock worth $9,285,153 over the last three months. Company insiders own 0.88% of the company’s stock.

About Secure Energy Services

Secure Energy Services Inc engages in the waste management and energy infrastructure businesses primarily in Canada and the United States. It operates through three segments, Environmental Waste Management, Energy Infrastructure, and Oilfield Services. The Environmental Waste Management segment includes a network of waste processing facilities, produced water pipelines, industrial landfills, waste transfer, and metal recycling facilities.