CES Energy Solutions (TSE:CEU) Share Price Passes Above 200 Day Moving Average – Should You Sell?

CES Energy Solutions Corp. (TSE:CEU)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$7.15 and traded as high as C$7.80. CES Energy Solutions shares last traded at C$7.74, with a volume of 594,440 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on CEU. BMO Capital Markets lifted their target price on shares of CES Energy Solutions from C$10.00 to C$12.00 in a research note on Friday, August 9th. Royal Bank of Canada lifted their price objective on shares of CES Energy Solutions from C$9.00 to C$10.00 in a research note on Friday, August 9th. Scotiabank increased their target price on CES Energy Solutions from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Monday, August 12th. 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, TD Securities increased their price objective on CES Energy Solutions from C$9.00 to C$9.50 in a report on Wednesday, July 17th. One equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$9.84.

CES Energy Solutions Stock Up 5.4 %

The company has a market cap of C$1.81 billion, a PE ratio of 9.92, a P/E/G ratio of 0.61 and a beta of 2.31. The stock has a 50-day moving average of C$7.65 and a 200-day moving average of C$7.15. The company has a quick ratio of 1.78, a current ratio of 3.18 and a debt-to-equity ratio of 51.40.

CES Energy Solutions (TSE:CEU) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.20 earnings per share for the quarter, missing the consensus estimate of C$0.25 by C($0.05). The business had revenue of C$553.20 million during the quarter, compared to analysts’ expectations of C$544.70 million. CES Energy Solutions had a net margin of 8.53% and a return on equity of 27.17%. Sell-side analysts predict that CES Energy Solutions Corp. will post 0.8600646 earnings per share for the current fiscal year.

CES Energy Solutions Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.12 annualized dividend and a yield of 1.55%. CES Energy Solutions’s payout ratio is presently 15.38%.

Insider Transactions at CES Energy Solutions

In related news, Director John Michael Hooks sold 300,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$7.23, for a total value of C$2,167,680.00. In other CES Energy Solutions news, Director Michael Hallat sold 22,610 shares of CES Energy Solutions 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 transaction of C$174,357.02. Also, Director John Michael Hooks sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of C$7.23, for a total transaction of C$2,167,680.00. Insiders have sold 400,478 shares of company stock valued at $2,927,940 in the last quarter. Insiders own 3.03% of the company’s stock.

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.