CES Energy Solutions (TSE:CEU) Stock Price Passes Above 200 Day Moving Average – Here’s Why

26 Oct 2024, 17:31 by Tristan Rich · The Markets Daily

CES Energy Solutions Corp. (TSE:CEU – Get Free Report) 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 changing hands.

Wall Street Analysts Forecast Growth

CEU has been the subject of a number of research analyst reports. BMO Capital Markets increased their price target 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 objective on shares of CES Energy Solutions from C$9.00 to C$10.00 in a report on Friday, August 9th. Raymond James raised their target price on shares of CES Energy Solutions from C$10.50 to C$10.75 in a report on Tuesday, October 15th. National Bankshares boosted their target price on shares of CES Energy Solutions from C$7.00 to C$9.25 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, ATB Capital increased their price target on CES Energy Solutions from C$8.50 to C$9.75 in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of C$9.84.

Check Out Our Latest Stock Report on CES Energy Solutions

CES Energy Solutions Stock Performance

The stock has a 50-day moving average of C$7.65 and a 200 day moving average of C$7.15. The stock has a market cap of C$1.84 billion, a PE ratio of 10.08, a P/E/G ratio of 0.61 and a beta of 2.31. The company has a quick ratio of 1.78, a current ratio of 3.18 and a debt-to-equity ratio of 51.40.

CES Energy Solutions (TSE:CEU – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.20 EPS for the quarter, missing the consensus estimate of C$0.25 by C($0.05). The firm had revenue of C$553.20 million for the quarter, compared to analysts’ expectations of C$544.70 million. CES Energy Solutions had a net margin of 8.53% and a return on equity of 27.17%. Equities analysts predict that CES Energy Solutions Corp. will post 0.8600646 EPS for the current fiscal year.

CES Energy Solutions Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 15th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.53%. CES Energy Solutions’s payout ratio is presently 15.38%.

Insider Buying and Selling

In related news, Director Michael Hallat sold 22,610 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of C$7.71, for a total transaction of C$174,357.02. In other CES Energy Solutions news, Director Michael Hallat sold 22,610 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were 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 business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of C$7.23, for a total transaction of C$2,167,680.00. In the last 90 days, insiders have sold 400,478 shares of company stock valued at $2,927,940. Corporate insiders own 3.03% of the company’s stock.

CES Energy Solutions Company Profile

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