Analysts Set Trican Well Service Ltd. (TSE:TCW) PT at C$7.71

Shares of Trican Well Service Ltd. (TSE:TCW) have received an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is C$7.71.

A number of analysts have recently commented on the stock. Royal Bank Of Canada lifted their price target on shares of Trican Well Service from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. Raymond James Financial cut their target price on shares of Trican Well Service from C$7.50 to C$6.75 and set a “market perform” rating for the company in a research report on Thursday, July 30th. BMO Capital Markets raised Trican Well Service from a “market perform” rating to an “outperform” rating and increased their price target for the company from C$7.00 to C$9.00 in a report on Tuesday, May 12th. TD Securities raised Trican Well Service from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Finally, ATB Cormark Capital Markets upped their price objective on Trican Well Service from C$8.00 to C$8.50 and gave the company an “outperform” rating in a research report on Wednesday, May 13th.

Insider Activity at Trican Well Service

In other Trican Well Service news, Director Thomas Malcolm Alford acquired 5,000 shares of the stock in a transaction dated Friday, July 31st. The shares were purchased at an average price of C$5.88 per share, for a total transaction of C$29,400.00. Following the purchase, the director directly owned 50,000 shares of the company’s stock, valued at approximately C$294,000. This trade represents a 11.11% increase in their ownership of the stock. 0.62% of the stock is owned by insiders.

Trican Well Service Trading Up 0.5%

Shares of TSE:TCW opened at C$6.43 on Wednesday. The company has a market cap of C$1.35 billion, a P/E ratio of 14.95, a PEG ratio of 0.22 and a beta of -0.27. The company has a debt-to-equity ratio of 3.24, a current ratio of 1.77 and a quick ratio of 1.75. Trican Well Service has a 1 year low of C$5.19 and a 1 year high of C$8.40. The stock’s fifty day moving average price is C$6.35 and its 200-day moving average price is C$6.87.

Trican Well Service (TSE:TCW) last issued its earnings results on Tuesday, July 28th. The company reported C($0.01) earnings per share for the quarter. The business had revenue of C$214.60 million during the quarter. Trican Well Service had a return on equity of 12.81% and a net margin of 7.60%.

Trican Well Service Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, September 15th. Trican Well Service’s payout ratio is currently 51.16%.

Trican Well Service Company Profile

Headquartered in Calgary, Alberta, Trican supplies oil and natural gas well servicing equipment and solutions to our customers through the drilling, completion, and production cycles. Our team of technical experts provide state of the art equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada. Trican is the largest pressure pumping service company in Canada.