CES Energy Solutions (TSE:CEU) Reaches New 12-Month High Following Analyst Upgrade

CES Energy Solutions Corp. (TSE:CEU - Get Free Report) reached a new 52-week high on Tuesday after Scotiabank raised their price target on the stock from C$5.85 to C$8.50. Scotiabank currently has an outperform rating on the stock. CES Energy Solutions traded as high as C$6.70 and last traded at C$6.65, with a volume of 116483 shares. The stock had previously closed at C$6.64.

Other research analysts also recently issued research reports about the stock. Raymond James raised their price target on shares of CES Energy Solutions from C$6.75 to C$8.50 in a report on Friday. ATB Capital boosted their price target on CES Energy Solutions from C$5.25 to C$6.50 in a research report on Wednesday, April 3rd. BMO Capital Markets increased their price objective on CES Energy Solutions from C$6.00 to C$8.00 in a report on Tuesday, April 23rd. Royal Bank of Canada boosted their target price on 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. Finally, Stifel Nicolaus lifted their price target on shares of CES Energy Solutions from C$7.50 to C$8.50 in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of C$7.69.

Insiders Place Their Bets

In other CES Energy Solutions news, Director Kyle Kitagawa sold 50,000 shares of CES Energy Solutions stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of C$5.33, for a total transaction of C$266,500.00. In related news, Senior Officer Kenneth Earl Zinger sold 45,000 shares of the business's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of C$4.73, for a total value of C$212,850.00. Also, Director Kyle Kitagawa sold 50,000 shares of CES Energy Solutions stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of C$5.33, for a total value of C$266,500.00. Insiders have sold 498,360 shares of company stock worth $2,417,920 in the last ninety days. Insiders own 2.35% of the company's stock.

CES Energy Solutions Stock Up 1.7 %

The stock has a market capitalization of C$1.59 billion, a P/E ratio of 10.95, a P/E/G ratio of 0.61 and a beta of 2.46. The company has a current ratio of 2.95, a quick ratio of 1.78 and a debt-to-equity ratio of 70.47. The firm's fifty day moving average is C$5.30 and its 200-day moving average is C$4.29.

CES Energy Solutions (TSE:CEU - Get Free Report) last posted its earnings results on Thursday, February 29th. The company reported C$0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of C$0.14 by C$0.06. The company had revenue of C$553.46 million during the quarter, compared to analysts' expectations of C$538.23 million. CES Energy Solutions had a net margin of 7.15% and a return on equity of 24.41%. As a group, equities research analysts predict that CES Energy Solutions Corp. will post 0.6391403 earnings per share for the current year.

CES Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This is a positive change from CES Energy Solutions's previous quarterly dividend of $0.03. This represents a $1.60 dividend on an annualized basis and a dividend yield of 23.70%. CES Energy Solutions's dividend payout ratio (DPR) is 19.67%.

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.

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