Raymond James Issues Positive Estimate for TSE:TCW Earnings

Trican Well Service Ltd. (TSE:TCW) – Stock analysts at Raymond James raised their FY2024 EPS estimates for shares of Trican Well Service in a research note issued to investors on Wednesday, October 30th. Raymond James analyst M. Barth now anticipates that the company will earn $0.53 per share for the year, up from their prior estimate of $0.49. Raymond James also issued estimates for Trican Well Service’s FY2026 earnings at $0.52 EPS and FY2027 earnings at $0.50 EPS.

Several other brokerages have also issued reports on TCW. BMO Capital Markets cut their target price on shares of Trican Well Service from C$5.50 to C$5.00 in a research note on Wednesday, October 30th. Cormark increased their target price on shares of Trican Well Service from C$6.00 to C$6.50 in a research note on Monday, July 29th. Royal Bank of Canada increased their target price on shares of Trican Well Service from C$5.50 to C$6.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, TD Securities cut their target price on shares of Trican Well Service from C$5.00 to C$4.75 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Trican Well Service currently has an average rating of “Moderate Buy” and an average price target of C$5.72.

Trican Well Service Trading Up 3.3 %

TSE:TCW opened at C$4.66 on Monday. The firm’s fifty day moving average is C$4.74 and its 200-day moving average is C$4.64. The company has a debt-to-equity ratio of 3.90, a quick ratio of 1.75 and a current ratio of 2.60. Trican Well Service has a 52 week low of C$3.79 and a 52 week high of C$5.24. The firm has a market cap of C$894.44 million, a P/E ratio of 8.23, a P/E/G ratio of 0.22 and a beta of 1.73.

Trican Well Service Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.045 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.18 annualized dividend and a dividend yield of 3.86%. Trican Well Service’s dividend payout ratio is currently 31.58%.

Insider Activity

In other news, Senior Officer Scott Eric Matson bought 27,000 shares of the stock in a transaction dated Friday, August 9th. The stock was bought at an average price of C$4.82 per share, for a total transaction of C$130,140.00. Insiders bought a total of 35,977 shares of company stock worth $173,559 over the last quarter. Insiders own 0.62% of the company’s stock.

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.