Brokerages Set Pason Systems Inc. (TSE:PSI) Price Target at C$18.83

Shares of Pason Systems Inc. (TSE:PSI) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$18.83.

PSI has been the subject of a number of recent research reports. TD Securities boosted their target price on Pason Systems from C$21.00 to C$22.00 and gave the company a “buy” rating in a research note on Friday, May 31st. BMO Capital Markets boosted their price target on Pason Systems from C$18.00 to C$20.00 in a report on Tuesday, April 23rd.

Pason Systems Price Performance

Pason Systems stock opened at C$18.43 on Thursday. Pason Systems has a 52 week low of C$11.03 and a 52 week high of C$18.57. The business has a 50-day simple moving average of C$16.35 and a 200 day simple moving average of C$15.53. The company has a quick ratio of 3.54, a current ratio of 2.65 and a debt-to-equity ratio of 3.44. The stock has a market cap of C$1.47 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 10.78 and a beta of 1.70.

Pason Systems (TSE:PSI) last posted its earnings results on Thursday, May 2nd. The company reported C$0.87 EPS for the quarter, topping the consensus estimate of C$0.29 by C$0.58. Pason Systems had a return on equity of 30.12% and a net margin of 34.92%. The business had revenue of C$104.76 million during the quarter, compared to analysts’ expectations of C$107.00 million. On average, research analysts forecast that Pason Systems will post 1.2097147 earnings per share for the current fiscal year.

Pason Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 28th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.52 dividend on an annualized basis and a yield of 2.82%. Pason Systems’s dividend payout ratio is currently 31.71%.

Insiders Place Their Bets

In other news, Senior Officer Bryce Mclean sold 4,250 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of C$18.00, for a total transaction of C$76,500.00. In related news, Senior Officer Bryce Mclean sold 4,250 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of C$18.00, for a total value of C$76,500.00. Also, Senior Officer Jonathan Faber sold 12,500 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of C$17.21, for a total transaction of C$215,143.75. In the last quarter, insiders sold 112,850 shares of company stock worth $1,877,989. Corporate insiders own 0.31% of the company’s stock.

About Pason Systems

Pason Systems Inc, together with its subsidiaries, provides instrumentation and data management systems for drilling rigs in Canada, the United States, and internationally. The company provides Electronic Drilling Recorder, which provides real-time drilling data to rig site personnel; DataHub with Pason Live, which is used as the central repository for data and reports captured at the rigs for real-time; and DataLink that provides automated in-house databases, third-party analytics platforms, remote geosteering, and other remote services.