Canaccord Genuity Trims Trican Well Service (TSE:TCW) Target Price to C$1.20

Trican Well Service (TSE:TCW) had its target price lowered by Canaccord Genuity from C$1.55 to C$1.20 in a research note published on Tuesday morning, BayStreet.CA reports.

Several other brokerages have also recently weighed in on TCW. CIBC lowered their price objective on shares of WestJet Airlines from C$22.00 to C$21.00 in a research note on Tuesday, April 23rd. AltaCorp Capital reiterated a sector perform rating on shares of STEP Energy Services in a research note on Thursday, June 20th. Finally, Cormark lowered their price objective on shares of Trican Well Service from C$3.50 to C$1.75 in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Trican Well Service presently has a consensus rating of Hold and a consensus target price of C$1.81.

Shares of TSE:TCW opened at C$1.05 on Tuesday. The business has a 50 day simple moving average of C$1.21. Trican Well Service has a twelve month low of C$0.96 and a twelve month high of C$3.23. The company has a quick ratio of 1.75, a current ratio of 2.08 and a debt-to-equity ratio of 9.84. The company has a market cap of $312.18 million and a PE ratio of -1.54.

Trican Well Service (TSE:TCW) last issued its quarterly earnings data on Thursday, May 9th. The company reported C($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C($0.03) by C$0.01. The business had revenue of C$245.68 million during the quarter, compared to the consensus estimate of C$230.47 million. Equities analysts forecast that Trican Well Service will post -0.07 earnings per share for the current year.

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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