Atb Cap Markets Weighs in on Trican Well Service Ltd.’s Q3 2024 Earnings (TSE:TCW)

Trican Well Service Ltd. (TSE:TCW) – Equities researchers at Atb Cap Markets cut their Q3 2024 EPS estimates for shares of Trican Well Service in a research note issued to investors on Wednesday, July 31st. Atb Cap Markets analyst W. Syed now forecasts that the company will earn $0.12 per share for the quarter, down from their previous forecast of $0.14. The consensus estimate for Trican Well Service’s current full-year earnings is $0.52 per share. Atb Cap Markets also issued estimates for Trican Well Service’s Q4 2024 earnings at $0.12 EPS, FY2024 earnings at $0.52 EPS, Q2 2025 earnings at $0.09 EPS, Q3 2025 earnings at $0.19 EPS, Q4 2025 earnings at $0.18 EPS and Q2 2026 earnings at $0.11 EPS.

Trican Well Service (TSE:TCW) last posted its earnings results on Monday, May 13th. The company reported C$0.19 EPS for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.01. The firm had revenue of C$271.93 million during the quarter, compared to the consensus estimate of C$282.63 million. Trican Well Service had a return on equity of 22.33% and a net margin of 12.26%.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada upped their price objective 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. TD Securities upped their target price on Trican Well Service from C$4.50 to C$5.00 and gave the company a “hold” rating in a research report on Wednesday. Cormark upped their price objective on Trican Well Service from C$6.00 to C$6.50 in a research report on Monday, July 29th. BMO Capital Markets increased their target price on Trican Well Service from C$5.50 to C$6.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Raymond James increased their target price on Trican Well Service from C$4.50 to C$5.00 and gave the company a “market perform” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$5.91.

Trican Well Service Stock Down 3.3 %

Shares of TCW opened at C$5.01 on Friday. Trican Well Service has a 52-week low of C$3.79 and a 52-week high of C$5.33. The company has a market cap of C$1.02 billion, a PE ratio of 9.28, a P/E/G ratio of 0.22 and a beta of 1.82. The business has a fifty day moving average of C$4.71 and a 200 day moving average of C$4.39. The company has a quick ratio of 1.75, a current ratio of 2.74 and a debt-to-equity ratio of 3.40.

Trican Well Service Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Friday, September 13th. Trican Well Service’s payout ratio is 33.33%.

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.