Brokers Set Expectations for Secure Energy Services Inc.’s FY2022 Earnings (TSE:SES)
Secure Energy Services Inc. (TSE:SES – Get Rating) – Equities researchers at National Bank Financial increased their FY2022 EPS estimates for Secure Energy Services in a research report issued on Monday, June 27th. National Bank Financial analyst P. Kenny now forecasts that the company will earn $0.31 per share for the year, up from their previous forecast of $0.28. The consensus estimate for Secure Energy Services’ current full-year earnings is $0.48 per share.
Several other research firms have also commented on SES. Royal Bank of Canada increased their target price on shares of Secure Energy Services from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research note on Friday, April 29th. BMO Capital Markets restated a “buy” rating and set a C$9.00 price target (up previously from C$8.00) on shares of Secure Energy Services in a report on Friday, April 29th. National Bankshares boosted their price target on shares of Secure Energy Services from C$8.00 to C$9.00 and gave the company an “outperform” rating in a report on Friday, April 29th. Stifel Nicolaus boosted their price target on shares of Secure Energy Services from C$9.00 to C$9.50 in a report on Friday, April 29th. Finally, TD Securities boosted their price target on shares of Secure Energy Services from C$7.50 to C$8.00 and gave the company a “buy” rating in a report on Friday, April 29th. Seven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of C$7.89.
SES stock opened at C$6.12 on Wednesday. Secure Energy Services has a 12 month low of C$3.73 and a 12 month high of C$7.58. The firm has a market cap of C$1.90 billion and a PE ratio of -10.07. The firm has a 50 day simple moving average of C$6.64 and a 200 day simple moving average of C$6.00. The company has a debt-to-equity ratio of 106.11, a current ratio of 1.31 and a quick ratio of 1.06.
Secure Energy Services (TSE:SES – Get Rating) last released its earnings results on Thursday, April 28th. The company reported C$0.12 EPS for the quarter, beating the consensus estimate of C$0.04 by C$0.08. The business had revenue of C$359.00 million for the quarter, compared to analyst estimates of C$350.00 million.
In related news, Senior Officer Allen Peter Gransch sold 38,756 shares of Secure Energy Services stock in a transaction on Tuesday, May 10th. The stock was sold at an average price of C$6.39, for a total transaction of C$247,794.24. Following the completion of the sale, the insider now owns 395,224 shares of the company’s stock, valued at C$2,526,943.69. Also, Senior Officer Michael Francis Guy Mikuska sold 78,076 shares of Secure Energy Services stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of C$6.99, for a total value of C$545,751.24. Following the sale, the insider now directly owns 81,528 shares of the company’s stock, valued at approximately C$569,880.72. In the last three months, insiders have sold 136,832 shares of company stock valued at $933,345.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Friday, July 15th will be given a dividend of $0.0075 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $0.03 dividend on an annualized basis and a yield of 0.49%. Secure Energy Services’s payout ratio is -4.93%.
About Secure Energy Services (Get Rating)
Secure Energy Services Inc, an energy services company, provides solutions to upstream oil and natural gas companies operating primarily in Western Canadian Sedimentary Basin and the United States. It operates through two segments, Midstream Infrastructure, and Environmental and Fluid Management. The company’s Midstream Infrastructure segment provides services, such as clean oil terminalling, rail transloading, pipeline transportation, marketing and custom treating of crude oil, produced and waste water disposal, oilfield waste processing, and purchase/resale of oil services through its full service terminals, rail facilities, crude oil pipelines, crude oil terminalling facilities, water disposal facilities, and landfills.
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