CES Energy Solutions (TSE:CEU) Reaches New 52-Week High - Here's What Happened

CES Energy Solutions Corp. (TSE:CEU - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as C$9.78 and last traded at C$9.49, with a volume of 708161 shares trading hands. The stock had previously closed at C$9.77.

Wall Street Analyst Weigh In

CEU has been the subject of several research analyst reports. Royal Bank of Canada boosted their target price on shares of CES Energy Solutions from C$10.00 to C$11.00 in a research report on Thursday, November 7th. ATB Capital boosted their price target on CES Energy Solutions from C$8.50 to C$9.75 in a report on Friday, August 9th. Raymond James raised their price objective on CES Energy Solutions from C$10.50 to C$10.75 in a research note on Tuesday, October 15th. BMO Capital Markets boosted 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. Finally, Scotiabank increased their target price on CES Energy Solutions from C$9.00 to C$10.50 in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of C$10.16.

CES Energy Solutions Stock Performance

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 cap of C$2.21 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 0.61 and a beta of 2.31. The firm's 50-day moving average is C$8.11 and its two-hundred day moving average is C$7.63.

CES Energy Solutions (TSE:CEU - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported C$0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.14 by C$0.06. The company had revenue of C$606.52 million during the quarter, compared to the consensus estimate of C$582.25 million. CES Energy Solutions had a return on equity of 27.17% and a net margin of 8.53%. As a group, research analysts expect that CES Energy Solutions Corp. will post 0.8600646 EPS for the current year.

CES Energy Solutions Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.27%. The ex-dividend date is Tuesday, December 31st. CES Energy Solutions's payout ratio is currently 15.38%.

Insider Transactions at CES Energy Solutions

In other CES Energy Solutions news, Senior Officer Anthony Michael Aulicino sold 17,667 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of C$8.99, for a total value of C$158,826.33. Also, Senior Officer Kenneth Earl Zinger sold 72,786 shares of the firm's stock in a transaction that occurred 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. In the last three months, insiders sold 472,732 shares of company stock valued at $3,584,982. Company insiders own 3.03% of the company's stock.

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.