Pason Systems (TSE:PSI) Trading Up 13.7% – Here’s Why

Pason Systems Inc. (TSE:PSI) shares rose 13.7% during trading on Wednesday . The stock traded as high as C$14.61 and last traded at C$14.54. 248,570 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 241,564 shares. The stock had previously closed at C$12.79.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PSI shares. TD Securities raised Pason Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. TD decreased their price target on shares of Pason Systems from C$18.00 to C$15.00 and set a “hold” rating for the company in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Pason Systems presently has a consensus rating of “Moderate Buy” and an average price target of C$14.83.

Pason Systems Trading Up 13.4%

The company’s 50 day simple moving average is C$12.88 and its two-hundred day simple moving average is C$13.10. The company has a quick ratio of 3.54, a current ratio of 2.11 and a debt-to-equity ratio of 5.79. The company has a market capitalization of C$1.13 billion, a price-to-earnings ratio of 24.18, a P/E/G ratio of 10.78 and a beta of 0.43.

Pason Systems (TSE:PSI) last issued its quarterly earnings results on Tuesday, August 11th. The company reported C$0.18 earnings per share (EPS) for the quarter. Pason Systems had a return on equity of 9.49% and a net margin of 11.31%.The business had revenue of C$100.78 million for the quarter. As a group, research analysts anticipate that Pason Systems Inc. will post 1.229765 earnings per share for the current fiscal year.

Pason Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, June 16th. Pason Systems’s payout ratio is 86.67%.

Insiders Place Their Bets

In other Pason Systems news, insider Ryan Van Beurden sold 15,000 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of C$14.49, for a total value of C$217,350.00. Following the completion of the sale, the insider owned 11,000 shares of the company’s stock, valued at approximately C$159,390. This trade represents a 57.69% decrease in their ownership of the stock. Also, insider Bryce Mclean sold 8,410 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of C$14.50, for a total value of C$121,945.00. Following the sale, the insider owned 8,853 shares in the company, valued at C$128,368.50. The trade was a 48.72% decrease in their position. Over the last quarter, insiders sold 44,210 shares of company stock valued at $640,831. 0.13% of the stock is currently owned by corporate insiders.

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.