Scotiabank Boosts CES Energy Solutions (TSE:CEU) Price Target to C$8.50

CES Energy Solutions (TSE:CEU) had its target price raised by Scotiabank from C$5.85 to C$8.50 in a research report sent to investors on Tuesday, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

Several other research analysts have also weighed in on CEU. National Bankshares upped their price objective on shares of CES Energy Solutions from C$6.50 to C$7.00 in a research note on Thursday, May 9th. ATB Capital upped their price target on shares of CES Energy Solutions from C$5.25 to C$6.50 in a research note on Wednesday, April 3rd. BMO Capital Markets boosted their target price on CES Energy Solutions from C$6.00 to C$8.00 in a research note on Tuesday, April 23rd. Stifel Nicolaus lifted their price target on CES Energy Solutions from C$7.50 to C$8.50 in a report on Thursday, May 9th. Finally, Raymond James increased their price objective on CES Energy Solutions from C$6.75 to C$8.50 in a report on Friday, May 10th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Buy and an average target price of C$7.69.

CES Energy Solutions Trading Down 1.7 %

Shares of TSE CEU opened at C$6.76 on Tuesday. 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 has a 12 month low of C$2.30 and a 12 month high of C$6.96. The company has a market cap of C$1.59 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 0.61 and a beta of 2.46. The business has a fifty day simple moving average of C$5.42 and a 200-day simple moving average of C$4.35.

CES Energy Solutions (TSE:CEU) last posted its quarterly earnings data on Thursday, February 29th. The company reported C$0.20 EPS for the quarter, beating analysts’ consensus estimates of C$0.14 by C$0.06. The company had revenue of C$553.46 million during the quarter, compared to analyst estimates of C$538.23 million. CES Energy Solutions had a net margin of 7.15% and a return on equity of 24.41%. Sell-side analysts predict that CES Energy Solutions will post 0.6391403 EPS for the current year.

CES Energy Solutions Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be issued a $0.40 dividend. This is a positive change from CES Energy Solutions’s previous quarterly dividend of $0.03. This represents a $1.60 annualized dividend and a yield of 23.67%. The ex-dividend date is Tuesday, May 21st. CES Energy Solutions’s payout ratio is 19.67%.

Insiders Place Their Bets

In other news, Senior Officer Kenneth Earl Zinger sold 45,000 shares of CES Energy Solutions stock in a transaction that occurred on 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 other news, Senior Officer Kenneth Earl Zinger sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of C$4.73, for a total value of C$212,850.00. Also, insider EdgePoint Investment Group Inc. sold 23,000 shares of CES Energy Solutions stock in a transaction dated Friday, April 5th. The stock was sold at an average price of C$5.55, for a total value of C$127,650.00. Insiders sold 498,360 shares of company stock valued at $2,417,920 over the last 90 days. 2.35% of the stock is currently 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.