Scotiabank Issues Positive Forecast for CES Energy Solutions (TSE:CEU) Stock Price

CES Energy Solutions (TSE:CEU) had its price target hoisted by Scotiabank from C$9.00 to C$10.50 in a research report sent to investors on Monday morning,BayStreet.CA reports.

Several other brokerages also recently issued reports on CEU. TD Securities boosted their price objective on CES Energy Solutions from C$9.00 to C$9.50 in a research report on Wednesday, July 17th. National Bankshares increased their price objective on shares of CES Energy Solutions from C$7.00 to C$9.25 and gave the company a “sector perform” rating in a report on Monday, July 29th. ATB Capital increased their price target on CES Energy Solutions from C$8.50 to C$9.75 in a research note on Friday, August 9th. Raymond James lifted their price target on CES Energy Solutions from C$10.50 to C$10.75 in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada upped their price objective on CES Energy Solutions from C$10.00 to C$11.00 in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CES Energy Solutions presently has an average rating of “Buy” and a consensus target price of C$10.16.

CES Energy Solutions Trading Up 1.9 %

Shares of TSE CEU opened at C$9.19 on Monday. CES Energy Solutions has a 12-month low of C$3.28 and a 12-month high of C$9.43. The company has a market cap of C$2.15 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 0.61 and a beta of 2.31. The company has a current ratio of 3.18, a quick ratio of 1.78 and a debt-to-equity ratio of 51.40. The stock’s 50 day simple moving average is C$7.75 and its 200 day simple moving average is C$7.38.

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

CES Energy Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.12 annualized dividend and a yield of 1.31%. CES Energy Solutions’s dividend payout ratio (DPR) is currently 15.38%.

Insiders Place Their Bets

In related news, Director Michael Hallat sold 22,610 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of C$7.71, for a total value of C$174,357.02. In other CES Energy Solutions news, Director Michael Hallat sold 22,610 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of C$7.71, for a total transaction of C$174,357.02. Also, Senior Officer Kenneth Earl Zinger sold 72,786 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of C$7.52, for a total transaction of C$547,350.72. Insiders sold a total of 400,478 shares of company stock valued at $2,927,940 in the last quarter. Insiders own 3.03% of the company’s stock.

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.