Trican Well Service (TSE:TCW) Announces Earnings Results

Trican Well Service (TSE:TCW) posted its quarterly earnings results on Tuesday. The company reported C($0.01) earnings per share for the quarter, FiscalAI reports. The business had revenue of C$214.60 million for the quarter. Trican Well Service had a return on equity of 17.25% and a net margin of 9.47%.

Trican Well Service Price Performance

Shares of Trican Well Service stock traded down C$0.10 during mid-day trading on Tuesday, reaching C$6.35. 748,566 shares of the stock were exchanged, compared to its average volume of 653,644. The company has a market cap of C$1.33 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 0.22 and a beta of -0.41. The company has a current ratio of 2.23, a quick ratio of 1.75 and a debt-to-equity ratio of 7.60. The firm has a 50-day simple moving average of C$7.08 and a 200 day simple moving average of C$7.00. Trican Well Service has a fifty-two week low of C$5.19 and a fifty-two week high of C$8.40.

Trican Well Service Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a $0.055 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.22 annualized dividend and a dividend yield of 3.5%. Trican Well Service’s dividend payout ratio is presently 39.81%.

Analyst Ratings Changes

TCW has been the subject of a number of analyst reports. ATB Cormark Capital Markets raised their price objective on shares of Trican Well Service from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. BMO Capital Markets raised shares of Trican Well Service from a “market perform” rating to an “outperform” rating and upped their target price for the company from C$7.00 to C$9.00 in a research note on Tuesday, May 12th. Finally, Royal Bank Of Canada increased their price target on shares of Trican Well Service from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$7.90.

About Trican Well Service

Headquartered in Calgary, Alberta, Trican supplies oil and natural gas well servicing equipment and solutions to our customers through the drilling, completion, and production cycles. Our team of technical experts provide state of the art equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada. Trican is the largest pressure pumping service company in Canada.