TD Securities downgraded shares of Trican Well Service (TSE:TCW) from a buy rating to a hold rating in a research note released on Friday morning. The brokerage currently has C$2.00 price objective on the stock, down from their previous price objective of C$3.00.
A number of other equities analysts also recently issued reports on the company. Raymond James downgraded Trican Well Service from a strong-buy rating to an outperform rating and dropped their price target for the stock from C$6.25 to C$4.50 in a research report on Friday, September 21st. Royal Bank of Canada downgraded Trican Well Service from an outperform rating to a sector perform rating and dropped their price target for the stock from C$5.00 to C$3.50 in a research report on Thursday, September 20th. BMO Capital Markets dropped their price target on Trican Well Service from C$4.00 to C$3.50 in a research report on Thursday, August 2nd. Canaccord Genuity dropped their price target on Trican Well Service from C$4.50 to C$4.25 in a research report on Friday, August 17th. Finally, JPMorgan Chase & Co. downgraded Trican Well Service from a neutral rating to an underweight rating in a research report on Thursday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of C$3.40.
Shares of TCW traded down C$0.07 during midday trading on Friday, reaching C$1.52. 5,487,100 shares of the stock were exchanged, compared to its average volume of 2,865,502. Trican Well Service has a 52 week low of C$1.45 and a 52 week high of C$5.04. The company has a debt-to-equity ratio of 6.74, a current ratio of 2.64 and a quick ratio of 2.02.
Trican Well Service (TSE:TCW) last posted its quarterly earnings results on Thursday, November 8th. The company reported C($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.06). The firm had revenue of C$253.74 million during the quarter, compared to analyst estimates of C$257.97 million. Equities analysts predict that Trican Well Service will post 0.0599999954716985 earnings per share for the current fiscal year.
In related news, insider Shaun Patrick Kelly acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were bought at an average price of C$2.75 per share, with a total value of C$55,000.00.
About Trican Well Service
Trican Well Service Ltd., an oilfield 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. It offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, gas migration prevention, cement design solutions, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services; and cement pumpers, bulk equipment, and cement auxiliary equipment.
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