Trican Well Service (TSE:TCW) Sets New 1-Year High – Time to Buy?

Trican Well Service Ltd. (TSE:TCW)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$5.24 and last traded at C$5.19, with a volume of 114171 shares traded. The stock had previously closed at C$5.13.

Wall Street Analysts Forecast Growth

TCW has been the subject of several analyst reports. ATB Capital lifted their price target on shares of Trican Well Service from C$5.50 to C$6.00 in a report on Tuesday, December 10th. 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. Raymond James dropped their price target on Trican Well Service from C$5.00 to C$4.75 in a report on Tuesday, October 15th. Finally, BMO Capital Markets reduced their price objective on Trican Well Service from C$5.50 to C$5.00 in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$5.57.

Trican Well Service Price Performance

The company has a current ratio of 2.60, a quick ratio of 1.75 and a debt-to-equity ratio of 3.90. The stock has a market capitalization of C$1.02 billion, a P/E ratio of 9.35, a PEG ratio of 0.22 and a beta of 1.73. The company has a fifty day simple moving average of C$4.80 and a two-hundred day simple moving average of C$4.80.

Trican Well Service Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.045 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date was Friday, December 13th. Trican Well Service’s dividend payout ratio (DPR) is 31.58%.

About Trican Well Service

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.