Scotiabank Issues Pessimistic Estimate for TSE:CEU Earnings

CES Energy Solutions Corp. (TSE:CEU) – Equities researchers at Scotiabank reduced their FY2024 earnings per share estimates for CES Energy Solutions in a note issued to investors on Wednesday, January 8th. Scotiabank analyst J. Goldman now expects that the company will earn $0.85 per share for the year, down from their previous forecast of $0.86. The consensus estimate for CES Energy Solutions’ current full-year earnings is $0.86 per share.

CES Energy Solutions (TSE:CEU) last posted its quarterly earnings results on Wednesday, November 6th. The company reported C$0.20 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.14 by C$0.06. CES Energy Solutions had a return on equity of 27.17% and a net margin of 8.53%. The business had revenue of C$606.52 million for the quarter, compared to analysts’ expectations of C$582.25 million.

Several other equities analysts also recently commented on the company. Atb Cap Markets downgraded CES Energy Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. ATB Capital increased their price objective on CES Energy Solutions from C$10.00 to C$11.00 in a research report on Tuesday, December 10th. Raymond James boosted their target price on shares of CES Energy Solutions from C$10.50 to C$10.75 in a research report on Tuesday, October 15th. National Bankshares raised their price target on shares of CES Energy Solutions from C$10.00 to C$11.50 and gave the stock a “sector perform” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada boosted their price objective on shares of CES Energy Solutions from C$10.00 to C$11.00 in a report on Thursday, November 7th. Two research 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$10.59.

CES Energy Solutions Price Performance

Shares of CEU opened at C$9.59 on Monday. The company’s 50-day moving average is C$9.47 and its 200-day moving average is C$8.31. The company has a debt-to-equity ratio of 51.40, a current ratio of 3.18 and a quick ratio of 1.78. The firm 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. CES Energy Solutions has a fifty-two week low of C$3.60 and a fifty-two week high of C$10.20.

CES Energy Solutions Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.03 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.12 dividend on an annualized basis and a yield of 1.25%. CES Energy Solutions’s payout ratio is 15.38%.

Insiders Place Their Bets

In related news, Director Stella Cosby sold 4,304 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was 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 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 value of C$547,890.00. Insiders have sold 151,347 shares of company stock worth $1,444,972 over the last ninety days. Corporate insiders own 3.03% of the company’s stock.

CES Energy Solutions Company Profile

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.