Trican Well Service Ltd. (TSE:TCW) Expected to Earn Q1 2024 Earnings of $0.18 Per Share

Trican Well Service Ltd. (TSE:TCW) – Investment analysts at Atb Cap Markets reduced their Q1 2024 earnings per share (EPS) estimates for shares of Trican Well Service in a report released on Sunday, April 7th. Atb Cap Markets analyst W. Syed now forecasts that the company will post earnings of $0.18 per share for the quarter, down from their prior forecast of $0.19. The consensus estimate for Trican Well Service’s current full-year earnings is $0.51 per share.

A number of other brokerages also recently issued reports on TCW. Raymond James set a C$4.50 price target on Trican Well Service and gave the company a “market perform” rating in a report on Tuesday, January 16th. ATB Capital set a C$6.00 price target on Trican Well Service and gave the company an “outperform” rating in a report on Friday, December 22nd. BMO Capital Markets cut their price target on Trican Well Service from C$6.00 to C$5.00 in a report on Thursday, March 28th. Stifel Nicolaus dropped their target price on Trican Well Service from C$6.50 to C$6.00 and set a “buy” rating on the stock in a research note on Wednesday, January 10th. Finally, TD Securities dropped their target price on Trican Well Service from C$4.75 to C$4.50 and set a “hold” rating on the stock in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Trican Well Service presently has a consensus rating of “Moderate Buy” and a consensus target price of C$5.46.

Trican Well Service Trading Up 4.2 %

Shares of TSE:TCW opened at C$4.49 on Wednesday. Trican Well Service has a 12-month low of C$2.91 and a 12-month high of C$5.33. The business’s fifty day simple moving average is C$4.16 and its 200-day simple moving average is C$4.27. The company has a market capitalization of C$935.09 million, a PE ratio of 7.88, a P/E/G ratio of 0.22 and a beta of 1.82. The company has a current ratio of 2.06, a quick ratio of 1.75 and a debt-to-equity ratio of 3.51.

Trican Well Service (TSE:TCW) last issued its earnings results on Wednesday, February 21st. The company reported C$0.14 earnings per share for the quarter, meeting analysts’ consensus estimates of C$0.14. Trican Well Service had a return on equity of 23.69% and a net margin of 12.44%. The business had revenue of C$254.92 million during the quarter, compared to analyst estimates of C$244.57 million.

Trican Well Service Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 29th were paid a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Trican Well Service’s previous quarterly dividend of $0.04. Trican Well Service’s payout ratio 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.