Pason Systems (TSE:PSI) Reaches New 52-Week High Following Analyst Upgrade

Pason Systems Inc. (TSE:PSI) shares reached a new 52-week high during trading on Tuesday after TD upgraded the stock from a hold rating to a buy rating. TD now has a C$18.00 price target on the stock, up from their previous price target of C$13.00. Pason Systems traded as high as C$15.36 and last traded at C$15.32, with a volume of 455158 shares changing hands. The stock had previously closed at C$13.70.

Separately, National Bank Financial decreased their price objective on Pason Systems from C$17.00 to C$15.50 and set a “sector perform” rating on the stock in a research note on Friday, January 9th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$15.13.

Pason Systems Trading Up 12.4%

The firm has a market capitalization of C$1.20 billion, a PE ratio of 22.65, a P/E/G ratio of 10.78 and a beta of 0.41. The company has a debt-to-equity ratio of 10.90, a quick ratio of 3.54 and a current ratio of 1.98. The firm has a fifty day moving average of C$13.02 and a 200 day moving average of C$12.44.

Pason Systems (TSE:PSI) last announced its earnings results on Thursday, February 26th. The company reported C$0.10 EPS for the quarter. The business had revenue of C$108.71 million for the quarter. Pason Systems had a return on equity of 10.80% and a net margin of 12.68%. Equities research analysts expect that Pason Systems Inc. will post 1.229765 EPS for the current year.

Pason Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Tuesday, March 17th. Pason Systems’s dividend payout ratio (DPR) is presently 76.47%.

Pason Systems Company Profile

Pason Systems Inc is an oilfield specialist with fully integrated drilling data solutions. A host of products allow customers to collect, manage, report, and analyze drilling data for performance optimization and cost control. The electronic drilling recorder is the company’s primary product, and provides a complete system of drilling data acquisition, data networking, drilling management tools, and reports at both the wellsite and customer office. Other product offerings include wellbore detection solutions, wellsite communications and bandwidth, wellbore gas analyzers, and software for data management.