Trican Well Service (TSE:TCW) Sets New 52-Week High Following Analyst Upgrade

Trican Well Service Ltd. (TSE:TCW) shares hit a new 52-week high during mid-day trading on Thursday after ATB Cormark Capital Markets raised their price target on the stock from C$8.00 to C$8.50. ATB Cormark Capital Markets currently has an outperform rating on the stock. Trican Well Service traded as high as C$7.92 and last traded at C$7.90, with a volume of 395512 shares changing hands. The stock had previously closed at C$7.73.

Several other brokerages have also issued reports on TCW. National Bank Financial lifted their price target on Trican Well Service from C$6.50 to C$8.00 and gave the company a “sector perform” rating in a research note on Friday, February 20th. BMO Capital Markets raised shares of Trican Well Service from a “market perform” rating to an “outperform” rating and lifted their price target for the company from C$7.00 to C$9.00 in a report on Tuesday. Finally, 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 company a “sector perform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$7.67.

Trican Well Service Price Performance

The company has a current ratio of 2.23, a quick ratio of 1.75 and a debt-to-equity ratio of 7.60. The firm has a market cap of C$1.65 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 0.22 and a beta of -0.27. The business has a 50-day moving average of C$7.08 and a two-hundred day moving average of C$6.49.

Trican Well Service (TSE:TCW) last posted its earnings results on Tuesday, May 12th. The company reported C$0.14 earnings per share for the quarter. Trican Well Service had a net margin of 9.47% and a return on equity of 17.25%. The firm had revenue of C$330.27 million for the quarter.

Trican Well Service Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, March 13th. Trican Well Service’s payout ratio is presently 36.84%.

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.