CIBC Lowers Trican Well Service (TSE:TCW) to Neutral

CIBC cut shares of Trican Well Service (TSE:TCW) from an outperform rating to a neutral rating in a report issued on Thursday, BayStreet.CA reports. They currently have C$1.50 price target on the stock, down from their prior price target of C$2.00.

Other research analysts also recently issued reports about the stock. Canaccord Genuity restated a buy rating and set a $7.50 price objective on shares of in a research report on Tuesday, July 9th. AltaCorp Capital restated a sector perform rating on shares of STEP Energy Services in a research report 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 report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of C$1.77.

TSE TCW opened at C$1.01 on Thursday. The company has a current ratio of 2.08, a quick ratio of 1.75 and a debt-to-equity ratio of 9.84. Trican Well Service has a 1-year low of C$0.93 and a 1-year high of C$3.23. The company has a 50 day simple moving average of C$1.15. The firm has a market capitalization of $273.90 million and a P/E ratio of -1.48.

Trican Well Service (TSE:TCW) last released its quarterly earnings results on Thursday, May 9th. The company reported C($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of C($0.03) by C$0.01. The business had revenue of C$245.68 million during the quarter, compared to analyst estimates of C$230.47 million. Research analysts predict that Trican Well Service will post -0.06 earnings per share for the current year.

Trican Well Service Company Profile

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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Analyst Recommendations for Trican Well Service (TSE:TCW)

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