Scotiabank Analysts Decrease Earnings Estimates for TSE:CEU

CES Energy Solutions Corp. (TSE:CEU) – Analysts at Scotiabank lowered their FY2024 earnings per share (EPS) estimates for CES Energy Solutions in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst J. Goldman now forecasts that the company will post earnings per share of $0.85 for the year, down from their previous forecast of $0.86. The consensus estimate for CES Energy Solutions’ current full-year earnings is $0.86 per share.

Other equities research analysts also recently issued research reports about the stock. ATB Capital lifted their price target on shares of CES Energy Solutions from C$10.00 to C$11.00 in a research note on Tuesday, December 10th. Royal Bank of Canada lifted their target price on CES Energy Solutions from C$10.00 to C$11.00 in a research report on Thursday, November 7th. Raymond James increased their price target on CES Energy Solutions from C$10.50 to C$10.75 in a report on Tuesday, October 15th. Atb Cap Markets downgraded CES Energy Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, National Bankshares upped their target price on CES Energy Solutions from C$10.00 to C$11.50 and gave the company a “sector perform” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, CES Energy Solutions presently has an average rating of “Moderate Buy” and a consensus price target of C$10.59.

CES Energy Solutions Trading Down 1.1 %

CEU opened at C$9.67 on Monday. The firm has a market capitalization of C$2.26 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.61 and a beta of 2.31. The firm’s 50 day moving average is C$9.47 and its 200-day moving average is C$8.30. 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 has a 52-week low of C$3.47 and a 52-week high of C$10.20.

CES Energy Solutions (TSE:CEU) last released its quarterly earnings results on Wednesday, November 6th. The company reported C$0.20 EPS for the quarter, topping the consensus estimate of C$0.14 by C$0.06. The firm had revenue of C$606.52 million for the quarter, compared to analyst estimates of C$582.25 million. CES Energy Solutions had a return on equity of 27.17% and a net margin of 8.53%.

CES Energy Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 15th will be given 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 1.24%. CES Energy Solutions’s payout ratio is 15.38%.

Insider Activity

In other CES Energy Solutions news, Senior Officer Anthony Michael Aulicino sold 17,667 shares of CES Energy Solutions stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of C$8.99, for a total value of C$158,826.33. Also, Senior Officer James Farnsworth Strickland sold 54,587 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of C$9.13, for a total value of C$498,215.55. In the last ninety days, insiders sold 173,957 shares of company stock worth $1,619,329. 3.03% of the stock is currently owned by insiders.

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.