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

Shares of CES Energy Solutions Corp. (TSE:CEU) were up 9% during trading 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 traded hands during mid-day 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 research analysts have also commented on CEU. National Bankshares boosted their price target on shares of CES Energy Solutions from C$6.50 to C$7.00 in a research report on Thursday. ATB Capital upped their target price on shares of CES Energy Solutions from C$5.25 to C$6.50 in a research report on Wednesday, April 3rd. BMO Capital Markets lifted their price target on CES Energy Solutions from C$6.00 to C$8.00 in a research note on Tuesday, April 23rd. Stifel Nicolaus increased their price objective on CES Energy Solutions from C$7.50 to C$8.50 in a research report on Thursday. Finally, Royal Bank of Canada boosted their target price on 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$7.14.

Insider Activity

In other CES Energy Solutions news, Senior Officer Kenneth Earl Zinger sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of C$4.73, for a total value of C$212,850.00. In related news, Senior Officer Kenneth Earl Zinger sold 45,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of C$4.73, for a total transaction of C$212,850.00. Also, insider EdgePoint Investment Group Inc. acquired 477,897 shares of the business’s stock in a transaction on Monday, March 18th. The stock was acquired at an average price of C$4.72 per share, for a total transaction of C$2,255,673.84. In the last 90 days, insiders have sold 498,360 shares of company stock valued at $2,417,920. Corporate insiders own 2.35% of the company’s stock.

CES Energy Solutions Stock Performance

The business has a 50 day moving average price of C$5.19 and a 200 day moving average price of C$4.23. The company has a debt-to-equity ratio of 70.47, a current ratio of 2.95 and a quick ratio of 1.78. The stock has a market capitalization of C$1.50 billion, a PE ratio of 10.49, a PEG ratio of 0.61 and a beta of 2.46.

CES Energy Solutions (TSE:CEU) last issued its earnings results on Thursday, February 29th. The company reported C$0.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of C$538.23 million. As a group, equities research analysts expect that CES Energy Solutions Corp. will post 0.6391403 earnings per share for the current year.

CES Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 15th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Wednesday, March 27th. This is an increase from CES Energy Solutions’s previous quarterly dividend of $0.03. CES Energy Solutions’s payout ratio is 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.