Bryce Mclean Sells 8,410 Shares of Pason Systems (TSE:PSI) Stock

Pason Systems Inc. (TSE:PSI) insider Bryce Mclean sold 8,410 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of C$14.50, for a total value of C$121,945.00. Following the completion of the transaction, the insider owned 8,853 shares of the company’s stock, valued at C$128,368.50. The trade was a 48.72% decrease in their ownership of the stock.

Pason Systems Trading Up 3.8%

PSI stock opened at C$14.86 on Friday. Pason Systems Inc. has a 1-year low of C$11.09 and a 1-year high of C$15.47. The company has a debt-to-equity ratio of 5.79, a current ratio of 2.11 and a quick ratio of 3.54. The company has a market capitalization of C$1.15 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 10.78 and a beta of 0.41. The business has a 50 day simple moving average of C$13.65 and a two-hundred day simple moving average of C$12.77.

Pason Systems (TSE:PSI) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$0.17 earnings per share for the quarter. Pason Systems had a return on equity of 9.49% and a net margin of 11.31%.The business had revenue of C$102.44 million during the quarter. Research analysts anticipate that Pason Systems Inc. will post 1.229765 EPS for the current fiscal year.

Pason Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were given a dividend of $0.13 per share. The ex-dividend date was Tuesday, March 17th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.5%. Pason Systems’s dividend payout ratio (DPR) is presently 86.67%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PSI. TD Securities upgraded Pason Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. TD upgraded Pason Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from C$13.00 to C$18.00 in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Pason Systems has an average rating of “Buy” and a consensus price target of C$15.13.

Pason Systems Company Profile

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.