Secure Energy Services (TSE:SES) Hits New 1-Year High – Here’s What Happened

Secure Energy Services Inc. (TSE:SES)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as C$13.73 and last traded at C$13.71, with a volume of 151342 shares traded. The stock had previously closed at C$13.34.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. BMO Capital Markets increased their price objective on shares of Secure Energy Services from C$14.00 to C$16.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. National Bankshares raised their target price on shares of Secure Energy Services from C$13.00 to C$14.00 in a research note on Wednesday, July 31st. Eight Capital set a C$20.00 target price on shares of Secure Energy Services and gave the company a “buy” rating in a research note on Wednesday. CIBC raised their target price on shares of Secure Energy Services from C$12.00 to C$13.00 in a research note on Monday, July 15th. Finally, ATB Capital raised their target price on shares of Secure Energy Services from C$14.50 to C$15.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$14.78.

Secure Energy Services Stock Up 2.8 %

The company has a market capitalization of C$3.30 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 0.17 and a beta of 2.41. The firm has a 50-day moving average price of C$12.04 and a two-hundred day moving average price of C$11.71. The company has a debt-to-equity ratio of 52.03, a current ratio of 1.15 and a quick ratio of 1.10.

Secure Energy Services (TSE:SES) last posted its quarterly earnings results on Tuesday, July 30th. The company reported C$0.12 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.14 by C($0.02). Secure Energy Services had a net margin of 5.62% and a return on equity of 50.56%. The company had revenue of C$337.00 million during the quarter. As a group, sell-side analysts anticipate that Secure Energy Services Inc. will post 0.7844418 earnings per share for the current fiscal year.

Secure Energy Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st will be issued a $0.10 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.92%. Secure Energy Services’s payout ratio is 20.00%.

Insider Activity at Secure Energy Services

In other Secure Energy Services news, Senior Officer Rhonda Kimberly Rudnitski sold 45,761 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of C$11.76, for a total transaction of C$538,121.90. In other Secure Energy Services news, Senior Officer Corey Ray Higham purchased 17,000 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were bought at an average price of C$11.80 per share, for a total transaction of C$200,560.90. Also, Senior Officer Rhonda Kimberly Rudnitski sold 45,761 shares of Secure Energy Services stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of C$11.76, for a total value of C$538,121.90. In the last ninety days, insiders sold 73,016 shares of company stock worth $877,203. Insiders own 0.95% of the company’s stock.

About Secure Energy Services

Secure Energy Services Inc engages in the waste management and energy infrastructure businesses primarily in Canada and the United States. It operates through three segments, Environmental Waste Management, Energy Infrastructure, and Oilfield Services. The Environmental Waste Management segment includes a network of waste processing facilities, produced water pipelines, industrial landfills, waste transfer, and metal recycling facilities.