Scotiabank Raises CES Energy Solutions (TSE:CEU) Price Target to C$10.50

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

CEU has been the subject of a number of other research reports. National Bankshares increased their price target on shares of CES Energy Solutions from C$7.00 to C$9.25 and gave the stock a “sector perform” rating in a research note on Monday, July 29th. BMO Capital Markets boosted their price target on CES Energy Solutions from C$10.00 to C$12.00 in a research report on Friday, August 9th. ATB Capital increased their price objective on CES Energy Solutions from C$8.50 to C$9.75 in a research report on Friday, August 9th. Raymond James boosted their target price on CES Energy Solutions from C$10.50 to C$10.75 in a report on Tuesday, October 15th. Finally, TD Securities increased their price target on CES Energy Solutions from C$9.00 to C$9.50 in a report on Wednesday, July 17th. One investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$10.16.

CES Energy Solutions Stock Performance

Shares of CEU stock opened at C$9.07 on Monday. The stock’s 50-day moving average is C$7.79 and its two-hundred day moving average is C$7.43. The company has a debt-to-equity ratio of 51.40, a quick ratio of 1.78 and a current ratio of 3.18. CES Energy Solutions has a 1 year low of C$3.28 and a 1 year high of C$9.43. The firm has a market cap of C$2.12 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 0.61 and a beta of 2.31.

CES Energy Solutions (TSE:CEU) last released its quarterly earnings results on Wednesday, November 6th. The company reported C$0.20 earnings per share (EPS) for the quarter, topping 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 firm had revenue of C$606.52 million for the quarter, compared to the consensus estimate of C$582.25 million. Analysts predict that CES Energy Solutions will post 0.8600646 earnings per share for the current year.

CES Energy Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.03 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.12 annualized dividend and a dividend yield of 1.32%. CES Energy Solutions’s dividend payout ratio is currently 15.38%.

Insider Buying and Selling

In other news, Senior Officer Kenneth Earl Zinger sold 72,786 shares of CES Energy Solutions stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of C$7.52, for a total transaction of C$547,350.72. Also, Director John Michael Hooks sold 4,382 shares of CES Energy Solutions 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. Insiders have sold 455,065 shares of company stock valued at $3,426,156 over the last quarter. Company 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.