FY2022 Earnings Estimate for Secure Energy Services Inc. Issued By Raymond James (TSE:SES)

Secure Energy Services Inc. (TSE:SES – Get Rating) – Equities researchers at Raymond James increased their FY2022 EPS estimates for Secure Energy Services in a research note issued on Tuesday, May 31st. Raymond James analyst A. Bradford now anticipates that the company will earn $0.55 per share for the year, up from their previous forecast of $0.37. Raymond James currently has a “Strong-Buy” rating and a $8.75 target price on the stock. Raymond James also issued estimates for Secure Energy Services’ FY2023 earnings at $0.58 EPS.

Secure Energy Services (TSE:SES – Get Rating) last posted its quarterly earnings results on Wednesday, March 2nd. The company reported C$0.09 EPS for the quarter, beating the consensus estimate of C$0.06 by C$0.03. The company had revenue of C$327.00 million for the quarter, compared to analysts’ expectations of C$318.00 million.

A number of other equities research analysts have also recently issued reports on SES. CIBC upped their price target on shares of Secure Energy Services from C$7.50 to C$8.00 in a report on Monday, May 2nd. Stifel Nicolaus upped their price objective on shares of Secure Energy Services from C$9.00 to C$9.50 in a research report on Friday, April 29th. National Bankshares increased their price target on shares of Secure Energy Services from C$8.00 to C$9.00 and gave the stock an “outperform” rating in a research report on Friday, April 29th. Royal Bank of Canada increased their price target on shares of Secure Energy Services from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Friday, April 29th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a C$9.00 price objective (up previously from C$8.00) on shares of Secure Energy Services in a report on Friday, April 29th. Seven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$7.89.

Secure Energy Services stock opened at C$7.45 on Friday. The stock has a market cap of C$2.31 billion and a P/E ratio of -12.25. Secure Energy Services has a 12 month low of C$3.73 and a 12 month high of C$7.58. The company’s fifty day simple moving average is C$6.32 and its 200-day simple moving average is C$5.84. The company has a quick ratio of 1.06, a current ratio of 1.31 and a debt-to-equity ratio of 106.11.

In other news, Director Rene Amirault sold 77,902 shares of the business’s stock in a transaction that occurred on Monday, March 14th. The shares were sold at an average price of C$5.19, for a total value of C$404,311.38. Following the completion of the transaction, the director now directly owns 436,173 shares in the company, valued at approximately C$2,263,737.87. Also, Senior Officer Michael Wayne Callihoo sold 5,005 shares of the business’s stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of C$5.39, for a total transaction of C$26,976.95. Following the completion of the transaction, the insider now owns 48,431 shares of the company’s stock, valued at C$261,043.09. Insiders sold a total of 219,752 shares of company stock valued at $1,364,702 over the last 90 days.

The company also recently announced a quarterly dividend, which was paid on Monday, April 18th. Stockholders of record on Monday, April 18th were given a $0.0075 dividend. The ex-dividend date was Thursday, March 31st. This is a boost from Secure Energy Services’s previous quarterly dividend of $0.01. This represents a $0.03 annualized dividend and a dividend yield of 0.40%. Secure Energy Services’s payout ratio is presently -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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