Royal Bank of Canada Boosts Pason Systems (TSE:PSI) Price Target to C$13.00

Pason Systems (TSE:PSI) had its price target hoisted by equities research analysts at Royal Bank of Canada from C$12.00 to C$13.00 in a note issued to investors on Monday, reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 39.63% from the company’s current price.

Other equities research analysts have also issued reports about the company. BMO Capital Markets lifted their price target on Pason Systems from C$10.00 to C$12.00 and gave the company a “na” rating in a research report on Monday, March 15th. National Bank Financial restated an “outperform” rating and issued a C$11.00 price target (up previously from C$10.50) on shares of Pason Systems in a research report on Thursday, February 25th.

PSI opened at C$9.31 on Monday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 6.11 and a current ratio of 6.20. Pason Systems has a 52-week low of C$4.74 and a 52-week high of C$10.50. The stock has a market capitalization of C$773.56 million and a PE ratio of -129.31. The stock’s 50 day moving average price is C$9.17 and its 200-day moving average price is C$8.18.

Pason Systems (TSE:PSI) last posted its earnings results on Wednesday, February 24th. The company reported C($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C($0.08) by C$0.05. The business had revenue of C$32.76 million for the quarter, compared to analysts’ expectations of C$24.35 million. Research analysts forecast that Pason Systems will post 0.29 EPS for the current fiscal year.

Pason Systems Company Profile

Pason Systems Inc, an energy services and technology company, provides instrumentation and data management systems for drilling rigs in North America and internationally. The company offers Electronic Drilling Recorder, which monitors and records drilling operations around the rig; DataHub for storing data and information collected from the rig for on-demand retrieval; DataLink service provides direct connection interfaces for IT systems and analytics tools; Pason Live for monitoring rig operations in real-time using desktop computers or mobile devices; and Daily and end-of-well KPI reports provide visual statistics on rig performance.

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