Raymond James Issues Positive Estimate for TSE:TCW Earnings

Trican Well Service Ltd. (TSE:TCW) – Stock analysts at Raymond James increased their FY2024 EPS estimates for Trican Well Service in a research report issued to clients and investors on Wednesday, October 30th. Raymond James analyst M. Barth now expects that the company will earn $0.53 per share for the year, up from their previous forecast of $0.49. Raymond James also issued estimates for Trican Well Service’s FY2026 earnings at $0.52 EPS and FY2027 earnings at $0.50 EPS.

A number of other research analysts also recently weighed in on the stock. Cormark raised their target price on shares of 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 shares of Trican Well Service from C$5.50 to C$6.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. BMO Capital Markets cut their target price on shares of Trican Well Service from C$5.50 to C$5.00 in a research note on Wednesday, October 30th. Finally, TD Securities cut their target price on shares of Trican Well Service from C$5.00 to C$4.75 and set a “hold” rating for the company in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$5.72.

Trican Well Service Stock Up 3.3 %

Trican Well Service stock opened at C$4.66 on Monday. The company has a market cap of C$894.44 million, a P/E ratio of 8.23, a price-to-earnings-growth ratio of 0.22 and a beta of 1.73. Trican Well Service has a 1-year low of C$3.79 and a 1-year high of C$5.24. The company has a fifty day simple moving average of C$4.74 and a 200 day simple moving average of C$4.64. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date is Friday, December 13th. Trican Well Service’s dividend payout ratio is currently 31.58%.

Insider Buying and Selling at Trican Well Service

In other news, Senior Officer Scott Eric Matson bought 27,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average cost of C$4.82 per share, for a total transaction of C$130,140.00. Insiders acquired 35,977 shares of company stock valued at $173,559 in the last quarter. Company insiders own 0.62% of the company’s stock.

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.