Scotiabank Predicts Lower Earnings for CES Energy Solutions

CES Energy Solutions Corp. (TSE:CEU - Free Report) - Investment analysts at Scotiabank cut their FY2024 earnings per share estimates for CES Energy Solutions in a research report issued on Wednesday, January 8th. Scotiabank analyst J. Goldman now expects that the company will post earnings of $0.85 per share for the year, down from their previous estimate of $0.86. The consensus estimate for CES Energy Solutions' current full-year earnings is $0.86 per share.

CES Energy Solutions (TSE:CEU - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$0.20 EPS for the quarter, beating the consensus estimate of C$0.14 by C$0.06. The business 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 net margin of 8.53% and a return on equity of 27.17%.

Other analysts have also issued reports about the company. Atb Cap Markets lowered CES Energy Solutions from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Royal Bank of Canada lifted 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. National Bankshares upped their price target on shares of CES Energy Solutions from C$10.00 to C$11.50 and gave the company a "sector perform" rating in a research report on Thursday, December 19th. Raymond James lifted their price target on shares of CES Energy Solutions from C$10.50 to C$10.75 in a report on Tuesday, October 15th. Finally, ATB Capital increased their price objective on CES Energy Solutions from C$10.00 to C$11.00 in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$10.59.

CES Energy Solutions Price Performance

Shares of CEU traded down C$0.08 during trading hours on Monday, reaching C$9.59. The stock had a trading volume of 573,776 shares, compared to its average volume of 588,536. The company has a debt-to-equity ratio of 51.40, a quick ratio of 1.78 and a current ratio of 3.18. CES Energy Solutions has a 12 month low of C$3.60 and a 12 month high of C$10.20. The stock has a market capitalization of C$2.24 billion, a PE ratio of 12.29, a PEG ratio of 0.61 and a beta of 2.31. The company's 50-day moving average is C$9.47 and its two-hundred day moving average is C$8.31.

CES Energy Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 15th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, December 31st. CES Energy Solutions's dividend payout ratio is presently 15.38%.

Insider Buying and Selling

In related news, Director Stella Cosby sold 4,304 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of C$10.00, for a total transaction of C$43,040.00. Also, Senior Officer Anthony Michael Aulicino sold 54,789 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of C$10.00, for a total transaction of C$547,890.00. Insiders have sold 173,957 shares of company stock worth $1,619,329 in the last quarter. 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.