Cormark Forecasts Higher Earnings for Trican Well Service

Trican Well Service Ltd. (TSE:TCW) – Cormark raised their FY2024 EPS estimates for Trican Well Service in a report issued on Thursday, October 31st. Cormark analyst B. Watson now anticipates that the company will post earnings per share of $0.50 for the year, up from their prior forecast of $0.46.

Other equities research analysts also recently issued research reports about the company. TD Securities lowered their price target on Trican Well Service from C$5.00 to C$4.75 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Raymond James decreased their target price on Trican Well Service from C$5.00 to C$4.75 in a report on Tuesday, October 15th. Royal Bank of Canada raised their price target on shares of Trican Well Service from C$5.50 to C$6.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, BMO Capital Markets reduced their price target on shares of Trican Well Service from C$5.50 to C$5.00 in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$5.72.

Trican Well Service Trading Down 2.4 %

TCW stock opened at C$4.51 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.60 and a debt-to-equity ratio of 3.90. The company has a market cap of C$865.65 million, a price-to-earnings ratio of 7.91, a PEG ratio of 0.22 and a beta of 1.73. The business has a fifty day simple moving average of C$4.74 and a 200-day simple moving average of C$4.64. Trican Well Service has a 52 week low of C$3.79 and a 52 week high of C$5.24.

Insider Buying and Selling at Trican Well Service

In other news, Senior Officer Scott Eric Matson bought 27,000 shares of Trican Well Service stock in a transaction dated Friday, August 9th. The shares were acquired at an average cost of C$4.82 per share, with a total value of C$130,140.00. Insiders bought 35,977 shares of company stock valued at $173,559 over the last 90 days. 0.62% of the stock is owned by corporate insiders.

Trican Well Service Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Friday, December 13th. Trican Well Service’s dividend payout ratio is presently 31.58%.

Trican Well Service Company Profile

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.