CES Energy Solutions (TSE:CEU) Reaches New 52-Week High at $7.78

Shares of CES Energy Solutions Corp. (TSE:CEU) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$7.78 and last traded at C$7.75, with a volume of 171500 shares trading hands. The stock had previously closed at C$7.51.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. BMO Capital Markets raised their target price on CES Energy Solutions from C$6.00 to C$8.00 in a report on Tuesday, April 23rd. ATB Capital lifted their price objective on CES Energy Solutions from C$8.25 to C$8.50 and gave the company an “outperform” rating in a research report on Friday, June 28th. Stifel Nicolaus increased their target price on shares of CES Energy Solutions from C$7.50 to C$8.50 in a report on Thursday, May 9th. Raymond James lifted their price target on shares of CES Energy Solutions from C$6.75 to C$8.50 in a report on Friday, May 10th. Finally, National Bankshares increased 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. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$7.94.

CES Energy Solutions Price Performance

The company has a quick ratio of 1.78, a current ratio of 2.76 and a debt-to-equity ratio of 60.16. The firm’s fifty day moving average price is C$6.95 and its 200 day moving average price is C$5.34. The stock has a market cap of C$1.76 billion, a PE ratio of 10.41, a P/E/G ratio of 0.61 and a beta of 2.41.

CES Energy Solutions (TSE:CEU) last announced its quarterly earnings results on Wednesday, May 8th. The company reported C$0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.15 by C$0.08. CES Energy Solutions had a net margin of 8.02% and a return on equity of 26.28%. The company had revenue of C$588.58 million for the quarter, compared to the consensus estimate of C$555.63 million. As a group, equities analysts expect that CES Energy Solutions Corp. will post 0.7197861 EPS for the current fiscal year.

CES Energy Solutions Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This is a positive change from CES Energy Solutions’s previous quarterly dividend of $0.03. This represents a $1.60 dividend on an annualized basis and a yield of 21.39%. CES Energy Solutions’s dividend payout ratio is presently 16.90%.

Insider Buying and Selling at CES Energy Solutions

In related news, Senior Officer Matthew Stephen Bell sold 26,146 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of C$7.54, for a total transaction of C$197,140.84. In other news, Senior Officer Anthony Michael Aulicino sold 54,507 shares of the business’s stock in a transaction that occurred on Thursday, July 4th. The stock was sold at an average price of C$7.55, for a total transaction of C$411,527.85. Also, Senior Officer Matthew Stephen Bell sold 26,146 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of C$7.54, for a total value of C$197,140.84. Insiders sold 106,043 shares of company stock worth $788,155 in the last quarter. 2.91% of the stock is owned by corporate insiders.

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.