Trican Well Service (TSE:TCW) Sets New 12-Month High – Here’s Why

Shares of Trican Well Service Ltd. (TSE:TCW) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$7.34 and last traded at C$7.15, with a volume of 1004315 shares traded. The stock had previously closed at C$7.09.

Analysts Set New Price Targets

Several research analysts have issued reports on TCW shares. ATB Cormark Capital Markets set a C$7.00 price target on Trican Well Service and gave the stock an “outperform” rating in a report on Friday, December 5th. TD Securities cut their target price on Trican Well Service from C$6.00 to C$5.50 and set a “hold” rating on the stock in a report on Wednesday, October 29th. Finally, Raymond James Financial downgraded shares of Trican Well Service from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Trican Well Service currently has a consensus rating of “Moderate Buy” and an average price target of C$6.50.

Trican Well Service Stock Performance

The company’s 50 day moving average price is C$6.40 and its 200-day moving average price is C$6.02. The stock has a market cap of C$1.48 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 0.22 and a beta of 0.31. The company has a debt-to-equity ratio of 5.89, a quick ratio of 1.75 and a current ratio of 2.62.

Trican Well Service (TSE:TCW) last released its quarterly earnings results on Wednesday, February 18th. The company reported C$0.15 earnings per share for the quarter. Trican Well Service had a net margin of 11.52% and a return on equity of 21.68%. The business had revenue of C$322.73 million for the quarter.

Trican Well Service Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were issued a $0.055 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.22 annualized dividend and a dividend yield of 3.2%. Trican Well Service’s dividend payout ratio is currently 35.71%.

About Trican Well Service

Trican Well Service Ltd is an equipment services company. It provides products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily through its continuing pressure pumping operations in Canada. The company offers services related to coiled tubing, pipeline service, cementing, fracturing and reservoir solutions.