Pason Systems Inc. Announces Quarterly Dividend of $0.13 (TSE:PSI)

Pason Systems Inc. (TSE:PSI) declared a quarterly dividend on Friday, September 13th, Zacks reports. Shareholders of record on Friday, September 27th will be paid a dividend of 0.13 per share on Friday, September 27th. This represents a $0.52 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Friday, September 13th.

Pason Systems Price Performance

Shares of TSE:PSI opened at C$13.25 on Thursday. The firm has a market capitalization of C$1.05 billion, a price-to-earnings ratio of 9.14, a price-to-earnings-growth ratio of 10.78 and a beta of 1.60. The company has a debt-to-equity ratio of 3.41, a current ratio of 2.62 and a quick ratio of 3.54. The business’s 50 day simple moving average is C$15.77 and its 200-day simple moving average is C$15.83. Pason Systems has a 12 month low of C$12.33 and a 12 month high of C$18.59.

Pason Systems (TSE:PSI) last posted its earnings results on Wednesday, August 7th. The company reported C$0.14 earnings per share for the quarter. The company had revenue of C$95.86 million for the quarter, compared to analyst estimates of C$90.20 million. Pason Systems had a return on equity of 26.63% and a net margin of 30.14%. As a group, equities analysts forecast that Pason Systems will post 0.9347537 earnings per share for the current fiscal year.

Analyst Ratings Changes

PSI has been the subject of a number of research reports. TD Securities cut their target price on shares of Pason Systems from C$22.00 to C$20.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. BMO Capital Markets dropped their price target on Pason Systems from C$22.00 to C$21.00 in a research report on Thursday, August 8th. Finally, Barclays reduced their price objective on Pason Systems from C$15.00 to C$13.00 in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pason Systems currently has an average rating of “Moderate Buy” and an average price target of C$18.33.

Insider Activity at Pason Systems

In other Pason Systems news, Senior Officer Bryce Mclean sold 4,250 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of C$18.00, for a total value of C$76,500.00. In related news, Senior Officer Jonathan Faber sold 29,500 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of C$17.02, for a total value of C$502,090.00. Also, Senior Officer Bryce Mclean sold 4,250 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of C$18.00, for a total value of C$76,500.00. Over the last ninety days, insiders sold 46,250 shares of company stock worth $793,734. 0.31% of the stock is currently owned by insiders.

Pason Systems Company Profile

Pason Systems Inc, together with its subsidiaries, provides instrumentation and data management systems for drilling rigs in Canada, the United States, and internationally. The company provides Electronic Drilling Recorder, which provides real-time drilling data to rig site personnel; DataHub with Pason Live, which is used as the central repository for data and reports captured at the rigs for real-time; and DataLink that provides automated in-house databases, third-party analytics platforms, remote geosteering, and other remote services.