FY2024 Earnings Forecast for TSE:CEU Issued By Raymond James

CES Energy Solutions Corp. (TSE:CEU - Free Report) - Investment analysts at Raymond James lifted their FY2024 earnings estimates for shares of CES Energy Solutions in a report issued on Tuesday, October 15th. Raymond James analyst M. Barth now expects that the company will post earnings per share of $0.85 for the year, up from their prior forecast 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.

CEU has been the subject of several other research reports. ATB Capital raised their price objective on shares of CES Energy Solutions from C$8.50 to C$9.75 in a research note on Friday, August 9th. National Bankshares upped their price objective on CES Energy Solutions from C$7.00 to C$9.25 and gave the stock a "sector perform" rating in a research report on Monday, July 29th. TD Securities lifted their target price on CES Energy Solutions from C$9.00 to C$9.50 in a report on Wednesday, July 17th. BMO Capital Markets upped their price target on CES Energy Solutions from C$10.00 to C$12.00 in a report on Friday, August 9th. Finally, Royal Bank of Canada lifted their price objective on CES Energy Solutions from C$9.00 to C$10.00 in a research note on Friday, August 9th. One equities 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.com, the company presently has an average rating of "Buy" and an average target price of C$9.84.

CES Energy Solutions Trading Down 0.3 %

TSE CEU traded down C$0.02 on Thursday, reaching C$7.79. The stock had a trading volume of 272,076 shares, compared to its average volume of 577,801. 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 fifty day moving average price of C$7.65 and a two-hundred day moving average price of C$7.07. CES Energy Solutions has a 12-month low of C$3.28 and a 12-month high of C$8.35. The firm has a market capitalization of C$1.82 billion, a price-to-earnings ratio of 10.06, a P/E/G ratio of 0.61 and a beta of 2.31.

CES Energy Solutions (TSE:CEU - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported C$0.20 earnings per share for the quarter, missing the consensus estimate of C$0.25 by C($0.05). The business had revenue of C$553.20 million during 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 15th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, September 27th. CES Energy Solutions's dividend payout ratio is presently 15.38%.

Insiders Place Their Bets

In related news, Director John Michael Hooks sold 300,000 shares of CES Energy Solutions stock in a transaction on Thursday, September 26th. The shares were sold at an average price of C$7.23, for a total value of C$2,167,680.00. In other news, 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 value of C$547,350.72. Also, Director John Michael Hooks sold 300,000 shares of CES Energy Solutions stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of C$7.23, for a total value of C$2,167,680.00. In the last ninety days, insiders sold 400,478 shares of company stock valued at $2,927,940. 3.03% of the stock is owned by company insiders.

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.