What is Scotiabank’s Forecast for TSE:CEU FY2024 Earnings?

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

A number of other brokerages also recently commented on CEU. ATB Capital upped their price objective on shares of CES Energy Solutions from C$10.00 to C$11.00 in a research report on Tuesday, December 10th. National Bankshares increased 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 report on Thursday, December 19th. Raymond James boosted their target price on CES Energy Solutions from C$10.50 to C$10.75 in a research report on Tuesday, October 15th. Royal Bank of Canada raised their price target on CES Energy Solutions from C$10.00 to C$11.00 in a report on Thursday, November 7th. Finally, Atb Cap Markets downgraded CES Energy Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$10.59.

CES Energy Solutions Price Performance

CES Energy Solutions stock opened at C$9.67 on Monday. The business has a 50 day simple moving average of C$9.47 and a 200-day simple moving average of C$8.30. CES Energy Solutions has a 12 month low of C$3.47 and a 12 month high of C$10.20. 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 stock has a market capitalization of C$2.26 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 0.61 and a beta of 2.31.

CES Energy Solutions (TSE:CEU) last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.14 by C$0.06. The company had revenue of C$606.52 million for the quarter, compared to the consensus estimate of C$582.25 million. CES Energy Solutions had a net margin of 8.53% and a return on equity of 27.17%.

CES Energy Solutions Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.12 dividend on an annualized basis and a yield of 1.24%. CES Energy Solutions’s payout ratio is 15.38%.

Insider Activity

In other CES Energy Solutions news, Senior Officer Anthony Michael Aulicino sold 54,789 shares of the company’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. Also, Director Michael Hallat sold 22,610 shares of CES Energy Solutions stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of C$7.71, for a total transaction of C$174,357.02. Insiders sold a total of 173,957 shares of company stock worth $1,619,329 over the last 90 days. 3.03% of the stock is currently owned by corporate insiders.

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.