CES Energy Solutions (TSE:CEU) Sets New 1-Year High – Here’s What Happened

05 Nov 2024, 21:49 by Sarita Garza · The Markets Daily

CES Energy Solutions Corp. (TSE:CEU – Get Free Report) hit a new 52-week high on Tuesday . The stock traded as high as C$8.39 and last traded at C$8.24, with a volume of 538582 shares changing hands. The stock had previously closed at C$8.15.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CEU shares. TD Securities raised their target price on shares of CES Energy Solutions from C$9.00 to C$9.50 in a research note on Wednesday, July 17th. National Bankshares raised their target price on shares of CES Energy Solutions from C$7.00 to C$9.25 and gave the company a “sector perform” rating in a research note on Monday, July 29th. Raymond James raised their price objective on shares of CES Energy Solutions from C$10.50 to C$10.75 in a research report on Tuesday, October 15th. ATB Capital raised their price objective on shares of CES Energy Solutions from C$8.50 to C$9.75 in a research report on Friday, August 9th. Finally, BMO Capital Markets raised their price objective on shares of CES Energy Solutions from C$10.00 to C$12.00 in a research report on Friday, August 9th. One investment 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. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$9.84.

Get Our Latest Stock Analysis on CES Energy Solutions

CES Energy Solutions Price Performance

The business’s 50 day moving average is C$7.66 and its 200-day moving average is C$7.26. The firm has a market capitalization of C$1.91 billion, a P/E ratio of 10.45, a PEG ratio of 0.61 and a beta of 2.31. 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 – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.25 by C($0.05). The firm had revenue of C$553.20 million during the quarter, compared to the consensus estimate of C$544.70 million. CES Energy Solutions had a net margin of 8.53% and a return on equity of 27.17%. As a group, sell-side analysts predict that CES Energy Solutions Corp. will post 0.8600646 EPS 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 paid a dividend of $0.03 per share. The ex-dividend date was Friday, September 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.47%. CES Energy Solutions’s payout ratio is presently 15.38%.

Insider Transactions at CES Energy Solutions

In other news, Director John Michael Hooks sold 300,000 shares of CES Energy Solutions stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$7.23, for a total transaction of C$2,167,680.00. In related news, Director Michael Hallat sold 22,610 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of C$7.71, for a total value of C$174,357.02. Also, Director John Michael Hooks sold 300,000 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$7.23, for a total transaction of C$2,167,680.00. Over the last 90 days, insiders have sold 400,478 shares of company stock worth $2,927,940. Company insiders own 3.03% of the company’s stock.

CES Energy Solutions Company Profile

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