CES Energy Solutions (TSE:CEU) Trading Up 9% on Analyst Upgrade

Shares of CES Energy Solutions Corp. (TSE:CEU) traded up 9% during mid-day trading on Thursday after TD Securities raised their price target on the stock from C$7.00 to C$9.00. TD Securities currently has a buy rating on the stock. CES Energy Solutions traded as high as C$6.67 and last traded at C$6.54. 399,066 shares were traded during mid-day trading, an increase of 7% from the average session volume of 373,961 shares. The stock had previously closed at C$6.00.

A number of other brokerages have also commented on CEU. Royal Bank of Canada raised their price target on CES Energy Solutions from C$5.00 to C$5.50 and gave the company an “outperform” rating in a report on Friday, March 1st. Raymond James boosted their target price on CES Energy Solutions from C$6.50 to C$6.75 and gave the stock a “strong-buy” rating in a report on Monday, March 4th. National Bankshares increased their price target on CES Energy Solutions from C$6.50 to C$7.00 in a research note on Thursday. Stifel Nicolaus raised their target price on CES Energy Solutions from C$7.50 to C$8.50 in a research note on Thursday. Finally, BMO Capital Markets boosted their price target on shares of CES Energy Solutions from C$6.00 to C$8.00 in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$7.14.

Insider Buying and Selling

In other news, Senior Officer Kenneth Earl Zinger sold 45,000 shares of CES Energy Solutions stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of C$4.73, for a total value of C$212,850.00. In related news, Senior Officer Anthony Michael Aulicino sold 150,360 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of C$4.71, for a total transaction of C$708,060.28. Also, Senior Officer Kenneth Earl Zinger sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of C$4.73, for a total transaction of C$212,850.00. In the last quarter, insiders have sold 498,360 shares of company stock valued at $2,417,920. 2.35% of the stock is owned by corporate insiders.

CES Energy Solutions Price Performance

The firm has a market cap of C$1.50 billion, a P/E ratio of 10.49, a PEG ratio of 0.61 and a beta of 2.46. The company has a fifty day moving average price of C$5.19 and a two-hundred day moving average price of C$4.23. The company has a current ratio of 2.95, a quick ratio of 1.78 and a debt-to-equity ratio of 70.47.

CES Energy Solutions (TSE:CEU) last issued its quarterly earnings data on Thursday, February 29th. The company reported C$0.20 earnings per share for the quarter, beating the consensus estimate of C$0.14 by C$0.06. CES Energy Solutions had a net margin of 7.15% and a return on equity of 24.41%. The company had revenue of C$553.46 million for the quarter, compared to analyst estimates of C$538.23 million. Equities analysts anticipate that CES Energy Solutions Corp. will post 0.6391403 earnings per share for the current year.

CES Energy Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 15th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.88%. This is an increase from CES Energy Solutions’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Wednesday, March 27th. CES Energy Solutions’s dividend payout ratio is 19.67%.

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.