Trican Well Service (TSE:TCW) Posts Quarterly Earnings Results

Trican Well Service (TSE:TCW) released its quarterly earnings data on Tuesday. The company reported C($0.01) EPS for the quarter, FiscalAI reports. Trican Well Service had a net margin of 9.47% and a return on equity of 17.25%. The business had revenue of C$214.60 million during the quarter.

Trican Well Service Trading Down 7.2%

TSE:TCW opened at C$5.89 on Thursday. The company has a market capitalization of C$1.24 billion, a PE ratio of 10.91, a P/E/G ratio of 0.22 and a beta of -0.41. Trican Well Service has a 52-week low of C$5.19 and a 52-week high of C$8.40. The stock’s 50 day moving average price is C$7.00 and its 200 day moving average price is C$7.01. The company has a quick ratio of 1.75, a current ratio of 2.23 and a debt-to-equity ratio of 7.60.

Trican Well Service Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were given a $0.055 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.7%. Trican Well Service’s dividend payout ratio is 39.81%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TCW. BMO Capital Markets upgraded Trican Well Service from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from C$7.00 to C$9.00 in a research note on Tuesday, May 12th. ATB Cormark Capital Markets raised their price objective on shares of Trican Well Service from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Royal Bank Of Canada boosted their price objective on shares of Trican Well Service from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research report on Wednesday, May 13th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of C$7.90.

Trican Well Service Company Profile

Headquartered in Calgary, Alberta, Trican supplies oil and natural gas well servicing equipment and solutions to our customers through the drilling, completion, and production cycles. Our team of technical experts provide state of the art equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada. Trican is the largest pressure pumping service company in Canada.