Trican Well Service (TCW) Shares Down 11.4% After Earnings Miss

Trican Well Service Ltd (TSE:TCW)’s share price was down 11.4% during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as C$1.60 and last traded at C$1.64. Approximately 1,577,946 shares traded hands during trading, a decline of 44% from the average daily volume of 2,819,753 shares. The stock had previously closed at C$1.85.

The company reported C($0.04) EPS for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.06). The company had revenue of C$253.74 million for the quarter, compared to the consensus estimate of C$257.97 million.

TCW has been the subject of a number of recent research reports. Raymond James lowered shares of Trican Well Service from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from C$6.25 to C$4.50 in a research note on Friday, September 21st. Royal Bank of Canada lowered shares of Trican Well Service from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$5.00 to C$3.50 in a research note on Thursday, September 20th. BMO Capital Markets reduced their price objective on shares of Trican Well Service from C$4.00 to C$3.50 in a research note on Thursday, August 2nd. Canaccord Genuity reduced their price objective on shares of Trican Well Service from C$4.50 to C$4.25 in a research note on Friday, August 17th. Finally, JPMorgan Chase & Co. lowered shares of Trican Well Service from a “neutral” rating to an “underweight” rating in a research note on Thursday, October 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of C$3.40.

In other news, insider Shaun Patrick Kelly purchased 20,000 shares of Trican Well Service stock in a transaction dated Wednesday, September 5th. The stock was purchased at an average cost of C$2.75 per share, for a total transaction of C$55,000.00.

The company has a debt-to-equity ratio of 6.74, a current ratio of 2.64 and a quick ratio of 2.02.

COPYRIGHT VIOLATION WARNING: This piece was originally posted by Transcript Daily and is the property of of Transcript Daily. If you are viewing this piece on another domain, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://transcriptdaily.com/2018/11/10/trican-well-service-tcw-shares-down-11-4-after-earnings-miss.html.

Trican Well Service Company Profile (TSE:TCW)

Trican Well Service Ltd., an oilfield services company, provides various specialized products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily in Canada. It offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, gas migration prevention, cement design solutions, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services; and cement pumpers, bulk equipment, and cement auxiliary equipment.

Featured Article: What is a Stop Order?

Receive News & Ratings for Trican Well Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trican Well Service and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply