Secure Energy Services Announces $136 Million Share Buyback

Secure Energy Services ( (TSE:SES) ) has shared an update.

Secure Energy Services announced the preliminary results of its substantial issuer bid, expecting to return approximately $136 million to shareholders. The bid, which was undersubscribed, reflects shareholder confidence in the company’s long-term value. Secure plans to purchase 9,382,391 shares at $14.50 each, representing about 4% of its outstanding shares. The company maintains a strong balance sheet and robust cash flows, allowing it to continue prioritizing capital allocation and shareholder returns through additional share buybacks.

The most recent analyst rating on (TSE:SES) stock is a Hold with a C$15.00 price target. To see the full list of analyst forecasts on Secure Energy Services stock, see the TSE:SES Stock Forecast page.

Spark’s Take on TSE:SES Stock

According to Spark, TipRanks’ AI Analyst, TSE:SES is a Outperform.

Secure Energy Services is well-positioned with strong financial performance, strategic growth initiatives, and a reasonable valuation. Its robust cash flow and effective management of capital structure are significant strengths. However, technical indicators suggest potential short-term challenges, and increased debt levels pose some risks. Overall, the company presents a compelling investment opportunity with caution advised due to market conditions.

To see Spark’s full report on TSE:SES stock, click here.

More about Secure Energy Services

Secure Energy Services is a company operating in the waste infrastructure sector, primarily focusing on the management and disposal of waste products. The company is listed on the Toronto Stock Exchange under the ticker SES and is committed to enhancing shareholder value through strategic financial maneuvers.

Average Trading Volume: 920,082

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$3.15B

For a thorough assessment of SES stock, go to TipRanks’ Stock Analysis page.