Pason Systems (TSE:PSI) Sets New 1-Year High at $17.49

Pason Systems Inc. (TSE:PSI) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$17.49 and last traded at C$17.49, with a volume of 26228 shares traded. The stock had previously closed at C$17.16.

Wall Street Analyst Weigh In

A number of research analysts have commented on PSI shares. BMO Capital Markets increased their price target on shares of Pason Systems from C$18.00 to C$20.00 in a research report on Tuesday, April 23rd. TD Securities lifted their target price on shares of Pason Systems from C$21.00 to C$22.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$18.83.

Pason Systems Stock Up 3.5 %

The company has a 50 day moving average price of C$16.30 and a 200-day moving average price of C$15.50. The stock has a market capitalization of C$1.44 billion, a PE ratio of 11.05, a PEG ratio of 10.78 and a beta of 1.70. The company has a debt-to-equity ratio of 3.44, a current ratio of 2.65 and a quick ratio of 3.54.

Pason Systems (TSE:PSI) last announced its quarterly earnings results on Thursday, May 2nd. The company reported C$0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.29 by C$0.58. Pason Systems had a net margin of 34.92% and a return on equity of 30.12%. The company had revenue of C$104.76 million for the quarter, compared to analysts’ expectations of C$107.00 million. As a group, analysts forecast that Pason Systems Inc. will post 1.2097147 earnings per share for the current fiscal year.

Pason Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 28th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, June 14th. Pason Systems’s payout ratio is presently 31.71%.

Insider Activity at Pason Systems

In related news, Senior Officer Russell Smith sold 13,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of C$15.50, for a total transaction of C$201,500.00. In other Pason Systems news, Senior Officer Kevin Boston sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of C$15.80, for a total transaction of C$78,980.00. Also, Senior Officer Russell Smith sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of C$15.50, for a total transaction of C$201,500.00. Insiders have sold 108,600 shares of company stock worth $1,801,489 over the last ninety days. 0.31% of the stock is owned by corporate insiders.

About Pason Systems

Pason Systems Inc, together with its subsidiaries, provides instrumentation and data management systems for drilling rigs in Canada, the United States, and internationally. The company provides Electronic Drilling Recorder, which provides real-time drilling data to rig site personnel; DataHub with Pason Live, which is used as the central repository for data and reports captured at the rigs for real-time; and DataLink that provides automated in-house databases, third-party analytics platforms, remote geosteering, and other remote services.