Scotiabank Predicts Lower Earnings for CES Energy Solutions

CES Energy Solutions Corp. (TSE:CEU) – Stock analysts at Scotiabank dropped their FY2024 EPS estimates for shares of CES Energy Solutions in a research note issued on Wednesday, January 8th. Scotiabank analyst J. Goldman now forecasts that the company will post earnings per share of $0.85 for the year, down from their prior estimate of $0.86. The consensus estimate for CES Energy Solutions’ current full-year earnings is $0.86 per share.

Several other equities analysts also recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of CES Energy Solutions from C$10.00 to C$11.00 in a research note on Thursday, November 7th. ATB Capital raised their target price on CES Energy Solutions from C$10.00 to C$11.00 in a research note on Tuesday, December 10th. Raymond James boosted their price target on shares of CES Energy Solutions from C$10.50 to C$10.75 in a research report on Tuesday, October 15th. National Bankshares raised their price objective on shares of CES Energy Solutions from C$10.00 to C$11.50 and gave the stock a “sector perform” rating in a research report on Thursday, December 19th. Finally, Atb Cap Markets downgraded shares of CES Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CES Energy Solutions has a consensus rating of “Moderate Buy” and a consensus price target of C$10.59.

CES Energy Solutions Trading Up 1.1 %

Shares of CEU opened at C$9.70 on Monday. CES Energy Solutions has a 52-week low of C$3.60 and a 52-week high of C$10.20. The stock has a market cap of C$2.27 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.61 and a beta of 2.31. The firm’s fifty day moving average is C$9.50 and its two-hundred day moving average is C$8.32. 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) last issued its quarterly earnings results on Wednesday, November 6th. 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. CES Energy Solutions had a return on equity of 27.17% and a net margin of 8.53%. The firm had revenue of C$606.52 million for the quarter, compared to analyst estimates of C$582.25 million.

Insider Transactions at CES Energy Solutions

In related news, Senior Officer Anthony Michael Aulicino sold 17,667 shares of CES Energy Solutions stock in a transaction on Monday, November 18th. The stock was sold at an average price of C$8.99, for a total value of C$158,826.33. Also, Senior Officer James Farnsworth Strickland sold 54,587 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$9.13, for a total value of C$498,215.55. Over the last quarter, insiders have sold 151,347 shares of company stock valued at $1,444,972. 3.03% of the stock is currently owned by corporate insiders.

CES Energy Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Tuesday, December 31st. CES Energy Solutions’s dividend payout ratio (DPR) is 15.38%.

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.