Cormark Boosts Earnings Estimates for Trican Well Service

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

Trican Well Service (TSE:TCW) last posted its earnings results on Tuesday, July 30th. The company reported C$0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.06 by C$0.02. Trican Well Service had a return on equity of 24.57% and a net margin of 12.36%. The firm had revenue of C$211.81 million for the quarter, compared to analyst estimates of C$191.10 million.

TCW has been the subject of a number of other research reports. Royal Bank of Canada lifted their price objective 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. TD Securities dropped their price target on shares of Trican Well Service from C$5.00 to C$4.75 and set a “hold” rating for the company in a research note on Tuesday, October 8th. BMO Capital Markets reduced their price objective on Trican Well Service from C$5.50 to C$5.00 in a research note on Wednesday. Finally, Raymond James lowered their target price on Trican Well Service from C$5.00 to C$4.75 in a research note on Tuesday, October 15th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$5.72.

Trican Well Service Stock Performance

TSE TCW opened at C$4.62 on Friday. The company has a debt-to-equity ratio of 3.90, a current ratio of 2.60 and a quick ratio of 1.75. The company has a market cap of C$886.76 million, a P/E ratio of 8.12, a P/E/G ratio of 0.22 and a beta of 1.73. The stock has a 50-day moving average of C$4.76 and a two-hundred day moving average of C$4.63. Trican Well Service has a 1-year low of C$3.79 and a 1-year high of C$5.24.

Insider Buying and Selling at Trican Well Service

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

Trican Well Service Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 3.90%. The ex-dividend date is Friday, December 13th. Trican Well Service’s dividend payout ratio (DPR) 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.