Trican Well Service (TSE:TCW) Shares Down 2.4%

Trican Well Service Ltd. (TSE:TCW) dropped 2.4% during mid-day trading on Friday . The stock traded as low as C$4.78 and last traded at C$4.78. Approximately 35,000 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 712,658 shares. The stock had previously closed at C$4.90.

Wall Street Analysts Forecast Growth

TCW has been the topic of several recent research reports. TD Securities raised their price target on Trican Well Service from C$4.50 to C$5.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Raymond James raised their price target on Trican Well Service from C$4.50 to C$5.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Cormark raised their target price on Trican Well Service from C$6.00 to C$6.50 in a research report on Monday, July 29th. Royal Bank of Canada raised their target price on Trican Well Service from C$5.50 to C$6.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets raised their target price on Trican Well Service from C$5.50 to C$6.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$5.91.

Trican Well Service Stock Performance

The company has a market capitalization of C$967.48 million, a price-to-earnings ratio of 8.60, a PEG ratio of 0.22 and a beta of 1.75. The firm has a 50-day moving average price of C$4.90 and a 200-day moving average price of C$4.55. The company has a current ratio of 2.60, a quick ratio of 1.75 and a debt-to-equity ratio of 3.90.

Trican Well Service (TSE:TCW) last issued its earnings results on Tuesday, July 30th. The company reported C$0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.06 by C$0.02. The business had revenue of C$211.81 million for the quarter, compared to analysts’ expectations of C$191.10 million. Trican Well Service had a return on equity of 24.57% and a net margin of 12.36%. As a group, sell-side analysts predict that Trican Well Service Ltd. will post 0.6423841 EPS for the current year.

Trican Well Service Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 30th will be issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of ?. The ex-dividend date is Friday, September 13th. Trican Well Service’s payout ratio is 31.58%.

Insider Buying and Selling

In related news, Senior Officer Scott Eric Matson bought 27,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were acquired at an average cost of C$4.82 per share, for a total transaction of C$130,140.00. Insiders have purchased 35,977 shares of company stock worth $173,559 in the last three months. 0.60% of the stock is currently owned by insiders.

Trican Well Service Company Profile

Trican Well Service Ltd., an equipment services company, provides various specialized products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily in Canada. The company offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, cement design, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services.