CES Energy Solutions Corp. (TSE:CEU) Forecasted to Post FY2024 Earnings of $0.72 Per Share

CES Energy Solutions Corp. (TSE:CEU) – Investment analysts at National Bank Financial upped their FY2024 earnings estimates for CES Energy Solutions in a research note issued to investors on Wednesday, May 8th. National Bank Financial analyst D. Payne now forecasts that the company will earn $0.72 per share for the year, up from their previous forecast of $0.67. The consensus estimate for CES Energy Solutions’ current full-year earnings is $0.64 per share. National Bank Financial also issued estimates for CES Energy Solutions’ FY2025 earnings at $0.74 EPS.

Other equities research analysts have also issued reports about the stock. Scotiabank boosted their target price on shares of CES Energy Solutions from C$5.30 to C$5.85 in a research report on Monday, March 4th. National Bankshares raised their price target on CES Energy Solutions from C$6.50 to C$7.00 in a research report on Thursday. ATB Capital boosted their price objective on shares of CES Energy Solutions from C$5.25 to C$6.50 in a research report on Wednesday, April 3rd. Stifel Nicolaus raised their target price on shares of CES Energy Solutions from C$7.50 to C$8.50 in a report on Thursday. Finally, TD Securities raised their price objective on shares of CES Energy Solutions from C$7.00 to C$9.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, CES Energy Solutions presently has a consensus rating of “Buy” and a consensus target price of C$7.14.

CES Energy Solutions Stock Performance

Shares of CEU stock opened at C$6.43 on Friday. The stock’s 50-day moving average price is C$5.23 and its 200 day moving average price is C$4.24. The company has a quick ratio of 1.78, a current ratio of 2.95 and a debt-to-equity ratio of 70.47. The stock has a market capitalization of C$1.51 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of 0.61 and a beta of 2.46. CES Energy Solutions has a 52-week low of C$2.30 and a 52-week high of C$6.67.

CES Energy Solutions (TSE:CEU) last posted its quarterly earnings data on Thursday, February 29th. The company reported C$0.20 earnings per share for the quarter, beating the consensus estimate of C$0.14 by C$0.06. CES Energy Solutions had a return on equity of 24.41% and a net margin of 7.15%. The business had revenue of C$553.46 million during the quarter, compared to the consensus estimate of C$538.23 million.

CES Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 15th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from CES Energy Solutions’s previous quarterly dividend of $0.03. CES Energy Solutions’s payout ratio is currently 19.67%.

Insiders Place Their Bets

In other news, Senior Officer Kenneth Earl Zinger sold 45,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of C$4.73, for a total transaction of C$212,850.00. In related news, Senior Officer Kenneth Earl Zinger sold 45,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of C$4.73, for a total value of C$212,850.00. Also, insider EdgePoint Investment Group Inc. bought 477,897 shares of CES Energy Solutions stock in a transaction on Monday, March 18th. The shares were purchased at an average cost of C$4.72 per share, with a total value of C$2,255,673.84. Over the last three months, insiders have sold 498,360 shares of company stock valued at $2,417,920. Company insiders own 2.35% 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.