CES Energy Solutions (TSE:CEU) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of CES Energy Solutions Corp. (TSE:CEU) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$7.15 and traded as high as C$7.80. CES Energy Solutions shares last traded at C$7.74, with a volume of 594,440 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CEU shares. Scotiabank boosted their target price on shares of CES Energy Solutions from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research report on Monday, August 12th. Raymond James upped their price objective on shares of CES Energy Solutions from C$10.50 to C$10.75 in a report on Tuesday, October 15th. BMO Capital Markets raised their target price on CES Energy Solutions from C$10.00 to C$12.00 in a research note on Friday, August 9th. Royal Bank of Canada upped their price target on CES Energy Solutions from C$9.00 to C$10.00 in a research note on Friday, August 9th. Finally, TD Securities increased their price target on CES Energy Solutions from C$9.00 to C$9.50 in a report on Wednesday, July 17th. One investment 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of C$9.84.

CES Energy Solutions Price Performance

The stock has a market capitalization of C$1.81 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 0.61 and a beta of 2.31. The business has a fifty day simple moving average of C$7.65 and a 200 day simple moving average of C$7.15. The company has a current ratio of 3.18, a quick ratio of 1.78 and a debt-to-equity ratio of 51.40.

CES Energy Solutions (TSE:CEU) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.25 by C($0.05). The company had revenue of C$553.20 million for the quarter, compared to the consensus estimate of C$544.70 million. CES Energy Solutions had a return on equity of 27.17% and a net margin of 8.53%. On average, analysts expect that CES Energy Solutions Corp. will post 0.8600646 earnings per share for the current year.

CES Energy Solutions Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.12 annualized dividend and a dividend yield of 1.55%. CES Energy Solutions’s dividend payout ratio is currently 15.38%.

Insider Activity at CES Energy Solutions

In other CES Energy Solutions news, Director Michael Hallat sold 22,610 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of C$7.71, for a total value of C$174,357.02. In other CES Energy Solutions news, Director Michael Hallat sold 22,610 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of C$7.71, for a total value of C$174,357.02. Also, Director John Michael Hooks sold 300,000 shares of the firm’s 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. Insiders have sold 400,478 shares of company stock valued at $2,927,940 over the last ninety days. Corporate 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.