Cormark Forecasts Higher Earnings for Trican Well Service

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

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

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

Trican Well Service Trading Up 1.8 %

Shares of TSE:TCW opened at C$4.62 on Friday. The business’s 50 day moving average price is C$4.76 and its 200-day moving average price is C$4.63. Trican Well Service has a 1 year low of C$3.79 and a 1 year high of C$5.24. The firm has a market capitalization of C$886.76 million, a price-to-earnings ratio of 8.12, a price-to-earnings-growth ratio of 0.22 and a beta of 1.73. The company has a debt-to-equity ratio of 3.90, a current ratio of 2.60 and a quick ratio of 1.75.

Trican Well Service Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.045 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 3.90%. Trican Well Service’s dividend payout ratio (DPR) is presently 31.58%.

Insider Activity at Trican Well Service

In related news, Senior Officer Scott Eric Matson acquired 27,000 shares of the stock in a transaction on Friday, August 9th. The shares were bought at an average price of C$4.82 per share, with a total value of C$130,140.00. Over the last 90 days, insiders purchased 35,977 shares of company stock valued at $173,559. 0.62% of the stock is currently owned by insiders.

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.