Pason Systems (TSE:PSI) Trading Up 13.7% on Analyst Upgrade

Pason Systems Inc. (TSE:PSI) rose 13.7% during trading on Wednesday after Royal Bank Of Canada raised their price target on the stock from C$16.00 to C$17.00. Royal Bank Of Canada currently has an outperform rating on the stock. Pason Systems traded as high as C$14.61 and last traded at C$14.54. 248,570 shares were traded during mid-day trading, an increase of 3% from the average session volume of 241,564 shares. The stock had previously closed at C$12.79.

Other equities research analysts have also issued reports about the stock. TD cut their price objective on shares of Pason Systems from C$18.00 to C$15.00 and set a “hold” rating for the company in a report on Monday, July 13th. TD Securities raised shares of Pason Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$15.83.

Insider Activity

In other news, insider Kevin Boston sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of C$14.74, for a total transaction of C$29,480.00. Following the transaction, the insider directly owned 7,300 shares of the company’s stock, valued at approximately C$107,602. This trade represents a 21.51% decrease in their ownership of the stock. Also, insider Ryan Van Beurden sold 15,000 shares of Pason Systems stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of C$14.49, for a total value of C$217,350.00. Following the completion of the sale, the insider owned 11,000 shares of the company’s stock, valued at C$159,390. The trade was a 57.69% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 44,210 shares of company stock valued at $640,831. 0.13% of the stock is currently owned by company insiders.

Pason Systems Price Performance

The firm has a market capitalization of C$1.14 billion, a P/E ratio of 23.73, a P/E/G ratio of 10.78 and a beta of 0.43. The stock’s fifty day simple moving average is C$12.89 and its 200 day simple moving average is C$13.14. The company has a debt-to-equity ratio of 5.51, a current ratio of 2.29 and a quick ratio of 3.54.

Pason Systems (TSE:PSI) last issued its quarterly earnings data on Tuesday, August 11th. The company reported C$0.18 earnings per share (EPS) for the quarter. The firm had revenue of C$100.78 million for the quarter. Pason Systems had a net margin of 11.53% and a return on equity of 9.71%. On average, equities research analysts predict that Pason Systems Inc. will post 1.229765 EPS for the current year.

Pason Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a $0.13 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.52 dividend on an annualized basis and a yield of 3.5%. Pason Systems’s dividend payout ratio (DPR) is 83.87%.

About Pason Systems

Pason Systems Inc is an oilfield specialist with fully integrated drilling data solutions. A host of products allow customers to collect, manage, report, and analyze drilling data for performance optimization and cost control. The electronic drilling recorder is the company’s primary product, and provides a complete system of drilling data acquisition, data networking, drilling management tools, and reports at both the wellsite and customer office. Other product offerings include wellbore detection solutions, wellsite communications and bandwidth, wellbore gas analyzers, and software for data management.