Trican Well Service (TSE:TCW) Shares Pass Above 200 Day Moving Average – Here’s Why

Trican Well Service Ltd. (TSE:TCW)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$6.70 and traded as high as C$7.68. Trican Well Service shares last traded at C$7.53, with a volume of 573,322 shares.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TCW shares. Royal Bank Of Canada raised their price target on Trican Well Service from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research report on Wednesday, May 13th. National Bank Financial raised their price objective on Trican Well Service from C$6.50 to C$8.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. BMO Capital Markets raised Trican Well Service from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from C$7.00 to C$9.00 in a research note on Tuesday, May 12th. Finally, ATB Cormark Capital Markets raised their price objective on Trican Well Service from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Trican Well Service presently has a consensus rating of “Hold” and a consensus target price of C$7.67.

Trican Well Service Price Performance

The firm has a market cap of C$1.58 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 0.22 and a beta of -0.27. The company has a current ratio of 2.23, a quick ratio of 1.75 and a debt-to-equity ratio of 7.60. The company has a 50 day moving average of C$7.31 and a 200 day moving average of C$6.70.

Trican Well Service (TSE:TCW) last released its quarterly earnings results on Tuesday, May 12th. The company reported C$0.14 earnings per share (EPS) for the quarter. Trican Well Service had a return on equity of 17.25% and a net margin of 9.47%.The firm had revenue of C$330.27 million for the quarter.

Trican Well Service Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th will be paid a $0.055 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.22 annualized dividend and a dividend yield of 2.9%. Trican Well Service’s dividend payout ratio (DPR) is currently 39.81%.

About Trican Well Service

Trican Well Service Ltd is an equipment services company. It provides products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily through its continuing pressure pumping operations in Canada. The company offers services related to coiled tubing, pipeline service, cementing, fracturing and reservoir solutions.