Trican Well Service (TSE:TCW) Stock Passes Above 200-Day Moving Average of $4.25

Trican Well Service Ltd. (TSE:TCW) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$4.25 and traded as high as C$4.27. Trican Well Service shares last traded at C$4.24, with a volume of 676,162 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. TD Securities reduced their price target on shares of Trican Well Service from C$4.75 to C$4.50 and set a “hold” rating on the stock in a research report on Friday, February 23rd. Raymond James set a C$4.50 price target on shares of Trican Well Service and gave the company a “market perform” rating in a research report on Tuesday, January 16th. BMO Capital Markets dropped their price target on shares of Trican Well Service from C$6.00 to C$5.00 in a research note on Thursday, March 28th. Finally, Stifel Nicolaus reduced their price objective on Trican Well Service from C$6.50 to C$6.00 and set a “buy” rating on the stock in a research note on Wednesday, January 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$5.46.

Trican Well Service Price Performance

The firm has a market capitalization of C$883.02 million, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 0.22 and a beta of 1.82. The stock’s fifty day moving average price is C$4.21 and its two-hundred day moving average price is C$4.25. The company has a current ratio of 2.06, a quick ratio of 1.75 and a debt-to-equity ratio of 3.51.

Trican Well Service (TSE:TCW) last posted its quarterly earnings results on Wednesday, February 21st. The company reported C$0.14 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.14. The company had revenue of C$254.92 million for the quarter, compared to analysts’ expectations of C$244.57 million. Trican Well Service had a return on equity of 23.69% and a net margin of 12.44%. Equities research analysts expect that Trican Well Service Ltd. will post 0.4899044 EPS for the current year.

Trican Well Service Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 29th were given a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Trican Well Service’s previous quarterly dividend of $0.04. Trican Well Service’s payout ratio is currently 32.73%.

About Trican Well Service

Trican Well Service Ltd., an equipment 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. The company offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, cement design, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services.