CES Energy Solutions (TSE:CEU) Trading 9% Higher After Analyst Upgrade

CES Energy Solutions Corp. (TSE:CEU - Get Free Report)'s stock price rose 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. Approximately 399,066 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 373,961 shares. The stock had previously closed at C$6.00.

A number of other research firms have also recently issued reports on CEU. BMO Capital Markets boosted their target price on CES Energy Solutions from C$6.00 to C$8.00 in a research note on Tuesday, April 23rd. National Bankshares boosted their target price on CES Energy Solutions from C$6.50 to C$7.00 in a research note on Thursday. Royal Bank of Canada upped their price objective on CES Energy Solutions from C$5.00 to C$5.50 and gave the stock an "outperform" rating in a research report on Friday, March 1st. Raymond James upped their price objective on CES Energy Solutions from C$6.50 to C$6.75 and gave the stock a "strong-buy" rating in a research report on Monday, March 4th. Finally, ATB Capital upped their price objective on CES Energy Solutions from C$5.25 to C$6.50 in a research report on Wednesday, April 3rd. One research analyst has 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 MarketBeat, the stock has a consensus rating of "Buy" and an average target price of C$7.14.

Insider Buying and Selling

In related news, insider EdgePoint Investment Group Inc. sold 23,000 shares of the company's stock in a transaction dated Friday, April 5th. The stock was sold at an average price of C$5.55, for a total transaction of C$127,650.00. In related news, insider EdgePoint Investment Group Inc. sold 23,000 shares of the company's stock in a transaction dated Friday, April 5th. The stock was sold at an average price of C$5.55, for a total transaction of C$127,650.00. Also, Senior Officer Kenneth Earl Zinger sold 45,000 shares of the company's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of C$4.73, for a total value of C$212,850.00. Over the last quarter, insiders have sold 498,360 shares of company stock worth $2,417,920. Corporate insiders own 2.35% of the company's stock.

CES Energy Solutions Stock Up 7.2 %

The stock has a market cap of C$1.51 billion, a P/E ratio of 10.54, a price-to-earnings-growth ratio of 0.61 and a beta of 2.46. The firm has a 50 day simple moving average of C$5.19 and a 200-day simple moving average of C$4.23. The company has a quick ratio of 1.78, a current ratio of 2.95 and a debt-to-equity ratio of 70.47.

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

CES Energy Solutions Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Wednesday, March 27th. This is a boost from CES Energy Solutions's previous quarterly dividend of $0.03. CES Energy Solutions's dividend payout ratio (DPR) is currently 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.