CES Energy Solutions Corp. (TSE:CEU) Announces Dividend Increase – $0.40 Per Share

CES Energy Solutions Corp. (TSE:CEU) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Wednesday, May 22nd will be paid a dividend of 0.40 per share on Wednesday, June 19th. This represents a $1.60 annualized dividend and a yield of 24.88%. The ex-dividend date of this dividend is Tuesday, May 21st. This is a boost from CES Energy Solutions’s previous quarterly dividend of $0.03.

CES Energy Solutions Price Performance

Shares of TSE CEU opened at C$6.43 on Friday. The firm has a market capitalization of C$1.51 billion, a P/E ratio of 10.54, a P/E/G ratio of 0.61 and a beta of 2.46. CES Energy Solutions has a 1-year low of C$2.30 and a 1-year high of C$6.67. The firm’s 50-day moving average price is C$5.23 and its 200-day moving average price is C$4.24. 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 released its earnings results on Thursday, February 29th. 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. The business had revenue of C$553.46 million during the quarter, compared to the consensus estimate of C$538.23 million. CES Energy Solutions had a return on equity of 24.41% and a net margin of 7.15%. Equities research analysts anticipate that CES Energy Solutions will post 0.6391403 earnings per share for the current fiscal year.

Analyst Ratings Changes

CEU has been the subject of several recent research reports. National Bankshares boosted their price objective on CES Energy Solutions from C$6.50 to C$7.00 in a research report on Thursday. Royal Bank of Canada boosted their target price on shares of CES Energy Solutions from C$5.00 to C$5.50 and gave the stock an “outperform” rating in a report on Friday, March 1st. TD Securities upped their price target on shares of CES Energy Solutions from C$7.00 to C$9.00 and gave the company a “buy” rating in a research note on Thursday. BMO Capital Markets lifted their price target on shares of CES Energy Solutions from C$6.00 to C$8.00 in a research note on Tuesday, April 23rd. Finally, Stifel Nicolaus boosted their target price on shares of CES Energy Solutions from C$7.50 to C$8.50 in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of C$7.14.

Insiders Place Their Bets

In related news, Senior Officer Anthony Michael Aulicino sold 150,360 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of C$4.71, for a total value of C$708,060.28. In other news, Director John Michael Hooks sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$4.76, for a total value of C$475,610.00. Also, Senior Officer Anthony Michael Aulicino sold 150,360 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of C$4.71, for a total value of C$708,060.28. Over the last 90 days, insiders sold 498,360 shares of company stock valued at $2,417,920. 2.35% of the stock is currently 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.