Brokers Set Expectations for Secure Energy Services Inc.’s FY2024 Earnings (TSE:SES)

Secure Energy Services Inc. (TSE:SES) – Investment analysts at Atb Cap Markets cut their FY2024 earnings estimates for shares of Secure Energy Services in a research report issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings per share of $0.67 for the year, down from their previous forecast of $0.72. The consensus estimate for Secure Energy Services’ current full-year earnings is $0.67 per share.

Secure Energy Services (TSE:SES) last announced its earnings results on Monday, February 26th. The company reported C$0.20 EPS for the quarter, hitting the consensus estimate of C$0.20. The firm had revenue of C$451.00 million for the quarter, compared to the consensus estimate of C$429.00 million. Secure Energy Services had a net margin of 2.36% and a return on equity of 15.91%.

Several other analysts have also issued reports on the stock. BMO Capital Markets raised their price target on shares of Secure Energy Services from C$13.00 to C$14.00 in a research report on Tuesday. Royal Bank of Canada raised their price target on shares of Secure Energy Services from C$11.00 to C$12.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 27th. Stifel Nicolaus lifted their target price on shares of Secure Energy Services from C$12.50 to C$13.50 and gave the company a “buy” rating in a research report on Thursday, April 18th. National Bankshares lifted their target price on shares of Secure Energy Services from C$12.00 to C$13.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Finally, CIBC lifted their target price on shares of Secure Energy Services from C$11.00 to C$12.00 and gave the company a “neutral” rating in a research report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$13.25.

Secure Energy Services Stock Performance

TSE SES opened at C$11.59 on Friday. The company has a debt-to-equity ratio of 92.92, a current ratio of 2.52 and a quick ratio of 1.10. The firm has a market capitalization of C$3.25 billion, a price-to-earnings ratio of 17.83, a P/E/G ratio of 0.17 and a beta of 2.58. The company’s fifty day moving average is C$11.28 and its two-hundred day moving average is C$9.66. Secure Energy Services has a 52-week low of C$5.81 and a 52-week high of C$11.92.

Secure Energy Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend was Thursday, March 28th. Secure Energy Services’s dividend payout ratio is currently 61.54%.

Insider Activity at Secure Energy Services

In related news, Senior Officer Michael Wayne Callihoo sold 8,000 shares of Secure Energy Services stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of C$11.25, for a total transaction of C$90,000.00. In other Secure Energy Services news, Director Rene Amirault sold 731,807 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of C$11.35, for a total value of C$8,302,496.78. Also, Senior Officer Michael Wayne Callihoo sold 8,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of C$11.25, for a total transaction of C$90,000.00. Insiders sold 751,914 shares of company stock valued at $8,529,853 in the last ninety days. Insiders own 0.88% of the company’s stock.

Secure Energy Services Company Profile

Secure Energy Services Inc engages in the waste management and energy infrastructure businesses primarily in Canada and the United States. It operates through three segments, Environmental Waste Management, Energy Infrastructure, and Oilfield Services. The Environmental Waste Management segment includes a network of waste processing facilities, produced water pipelines, industrial landfills, waste transfer, and metal recycling facilities.