Research Analysts Set Expectations for CES Energy Solutions Corp.’s FY2024 Earnings (TSE:CEU)

CES Energy Solutions Corp. (TSE:CEU) – Equities researchers at Raymond James raised their FY2024 earnings per share estimates for CES Energy Solutions in a report released on Tuesday, October 15th. Raymond James analyst M. Barth now forecasts that the company will post earnings per share of $0.85 for the year, up from their prior estimate of $0.84. The consensus estimate for CES Energy Solutions’ current full-year earnings is $0.86 per share. Raymond James also issued estimates for CES Energy Solutions’ FY2025 earnings at $0.90 EPS and FY2026 earnings at $1.01 EPS.

A number of other brokerages also recently commented on CEU. Scotiabank boosted their target price on shares of CES Energy Solutions from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research note on Monday, August 12th. Royal Bank of Canada raised their target price on CES Energy Solutions from C$9.00 to C$10.00 in a research report on Friday, August 9th. ATB Capital boosted their target price on CES Energy Solutions from C$8.50 to C$9.75 in a research note on Friday, August 9th. BMO Capital Markets increased their price target on shares of CES Energy Solutions from C$10.00 to C$12.00 in a research note on Friday, August 9th. Finally, TD Securities raised their price objective on shares of CES Energy Solutions from C$9.00 to C$9.50 in a report on Wednesday, July 17th. One equities 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$9.84.

CES Energy Solutions Trading Up 1.0 %

TSE CEU opened at C$7.81 on Thursday. CES Energy Solutions has a 52 week low of C$3.28 and a 52 week high of C$8.35. The firm has a 50 day moving average of C$7.64 and a two-hundred day moving average of C$7.05. The company has a quick ratio of 1.78, a current ratio of 3.18 and a debt-to-equity ratio of 51.40. The stock has a market capitalization of C$1.83 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 0.61 and a beta of 2.31.

CES Energy Solutions (TSE:CEU) last released its earnings results on Thursday, August 8th. The company reported C$0.20 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.25 by C($0.05). The firm had revenue of C$553.20 million for the quarter, compared to analysts’ expectations of C$544.70 million. CES Energy Solutions had a return on equity of 27.17% and a net margin of 8.53%.

CES Energy Solutions Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 15th were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.12 annualized dividend and a yield of 1.54%. CES Energy Solutions’s dividend payout ratio (DPR) is 15.38%.

Insider Buying and Selling

In other CES Energy Solutions news, Director John Michael Hooks sold 4,382 shares of CES Energy Solutions stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of C$7.52, for a total value of C$32,952.64. In related news, Senior Officer Kenneth Earl Zinger sold 72,786 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of C$7.52, for a total transaction of C$547,350.72. Also, Director John Michael Hooks sold 4,382 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of C$7.52, for a total transaction of C$32,952.64. Insiders sold a total of 400,478 shares of company stock worth $2,927,940 in the last 90 days. Company insiders own 3.03% of the company’s stock.

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.