CES Energy Solutions (CEU) Sets New 52-Week Low on Analyst Downgrade

CES Energy Solutions Corp (TSE:CEU) shares hit a new 52-week low on Friday after Alliance Global Partners lowered their price target on the stock from C$7.00 to C$5.00. The company traded as low as C$2.80 and last traded at C$2.84, with a volume of 319179 shares changing hands. The stock had previously closed at C$2.91.

CEU has been the subject of a number of other research reports. National Bank Financial upgraded CES Energy Solutions from a “sector perform” rating to an “outperform” rating and set a C$6.50 price target for the company in a research report on Tuesday, November 27th. Canaccord Genuity dropped their target price on shares of CES Energy Solutions from C$5.50 to C$4.75 in a report on Thursday, November 22nd. Cormark dropped their target price on shares of CES Energy Solutions from C$6.50 to C$4.50 in a report on Thursday. TD Securities upgraded shares of CES Energy Solutions from a “buy” rating to an “action list buy” rating and set a C$7.00 target price for the company in a report on Wednesday, November 14th. Finally, Raymond James dropped their target price on shares of CES Energy Solutions from C$5.00 to C$4.50 and set an “outperform” rating for the company in a report on Wednesday. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of C$5.88.

In other CES Energy Solutions news, insider John Michael Hooks sold 20,000 shares of the firm’s stock in a transaction on Wednesday, December 19th. The stock was sold at an average price of C$3.26, for a total transaction of C$65,214.00. Following the completion of the transaction, the insider now owns 1,512,171 shares of the company’s stock, valued at C$4,930,735.98.

The stock has a market capitalization of $773.73 million and a P/E ratio of 21.77. The company has a quick ratio of 1.91, a current ratio of 3.43 and a debt-to-equity ratio of 72.49.

The business also recently disclosed a monthly dividend, which was paid on Friday, February 15th. Investors of record on Friday, February 15th were given a dividend of $0.005 per share. This represents a $0.06 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Wednesday, January 30th. CES Energy Solutions’s dividend payout ratio is presently 36.54%.

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About CES Energy Solutions (TSE:CEU)

CES Energy Solutions Corp., together with its subsidiaries, provides consumable chemical solutions throughout the life-cycle of the oilfield. The company provides solutions at the drill-bit, at the point of completion and stimulation, at the wellhead and pump-jack, and through to the pipeline and midstream market.

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