CES Energy Solutions Corp. (TSE:CEU) to Post FY2024 Earnings of $0.85 Per Share, Raymond James Forecasts

CES Energy Solutions Corp. (TSE:CEU) – Research analysts at Raymond James raised their FY2024 earnings per share estimates for CES Energy Solutions in a note issued to investors on Tuesday, October 15th. Raymond James analyst M. Barth now expects that the company will earn $0.85 per share for the year, up from their previous estimate of $0.84. The consensus estimate for CES Energy Solutions’ current full-year earnings is $0.86 per share. Raymond James also issued estimates for CES Energy Solutions’ FY2025 earnings at $0.90 EPS and FY2026 earnings at $1.01 EPS.

A number of other research firms have also recently weighed in on CEU. National Bankshares upped their price target on CES Energy Solutions from C$7.00 to C$9.25 and gave the stock a “sector perform” rating in a report on Monday, July 29th. ATB Capital upped their target price on CES Energy Solutions from C$8.50 to C$9.75 in a report on Friday, August 9th. Scotiabank lifted their price target on CES Energy Solutions from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. TD Securities increased their price objective on shares of CES Energy Solutions from C$9.00 to C$9.50 in a research note on Wednesday, July 17th. Finally, BMO Capital Markets lifted their target price on shares of CES Energy Solutions from C$10.00 to C$12.00 in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$9.84.

CES Energy Solutions Trading Up 1.0 %

Shares of CEU opened at C$7.81 on Thursday. The firm’s 50-day moving average is C$7.64 and its two-hundred day moving average is C$7.05. CES Energy Solutions has a twelve month low of C$3.28 and a twelve month high of C$8.35. 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 firm has a market capitalization of C$1.83 billion, a P/E ratio of 10.00, a PEG ratio of 0.61 and a beta of 2.31.

CES Energy Solutions (TSE:CEU) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.25 by C($0.05). CES Energy Solutions had a net margin of 8.53% and a return on equity of 27.17%. The company had revenue of C$553.20 million during the quarter, compared to analysts’ expectations of C$544.70 million.

Insiders Place Their Bets

In other news, Director Michael Hallat sold 22,610 shares of the business’s stock in a transaction that occurred 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. In related news, Director John Michael Hooks sold 4,382 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of C$7.52, for a total transaction of C$32,952.64. Also, Director Michael Hallat sold 22,610 shares of CES Energy Solutions 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. Insiders have sold 400,478 shares of company stock valued at $2,927,940 in the last ninety days. Insiders own 3.03% of the company’s stock.

CES Energy Solutions Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.12 dividend on an annualized basis and a yield of 1.54%. CES Energy Solutions’s dividend payout ratio (DPR) is 15.38%.

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.