Trican Well Service (TCW) Hits New 1-Year Low at $1.18

Trican Well Service Ltd (TSE:TCW)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$1.18 and last traded at C$1.22, with a volume of 2142614 shares changing hands. The stock had previously closed at C$1.25.

TCW has been the topic of several recent analyst reports. Raymond James lowered shares of Trican Well Service from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from C$6.25 to C$4.50 in a report on Friday, September 21st. Royal Bank of Canada lowered shares of Trican Well Service from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from C$5.00 to C$3.50 in a report on Thursday, September 20th. Canaccord Genuity dropped their target price on shares of Trican Well Service from C$4.50 to C$4.25 in a report on Friday, August 17th. Evercore lowered shares of Trican Well Service from an “outperform” rating to an “in-line” rating and dropped their target price for the company from C$4.00 to C$3.00 in a report on Tuesday, October 16th. Finally, JPMorgan Chase & Co. lowered shares of Trican Well Service from a “neutral” rating to an “underweight” rating in a report on Thursday, October 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Trican Well Service currently has a consensus rating of “Hold” and an average price target of C$2.96.

The company has a current ratio of 2.47, a quick ratio of 2.00 and a debt-to-equity ratio of 13.90.

Trican Well Service (TSE:TCW) last announced its quarterly earnings data on Thursday, November 8th. The company reported C($0.04) earnings per share for the quarter, missing the consensus estimate of C$0.02 by C($0.06). The firm had revenue of C$253.74 million for the quarter, compared to analysts’ expectations of C$257.97 million. Sell-side analysts forecast that Trican Well Service Ltd will post -0.02 earnings per share for the current year.

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Trican Well Service Company Profile (TSE:TCW)

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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