Pason Systems (TSE:PSI) Price Target Cut to C$24.00

Pason Systems (TSE:PSI) had its price objective cut by CIBC from C$25.00 to C$24.00 in a report released on Thursday, BayStreet.CA reports.

Separately, National Bank Financial cut their price objective on Stelco from C$21.00 to C$18.00 and set an outperform rating for the company in a research report on Thursday, May 2nd.

TSE PSI opened at C$17.85 on Thursday. Pason Systems has a twelve month low of C$17.18 and a twelve month high of C$24.57. The company has a quick ratio of 8.05, a current ratio of 8.61 and a debt-to-equity ratio of 4.14. The firm has a market cap of $1.53 billion and a PE ratio of 22.04. The business’s 50-day simple moving average is C$18.66.

Pason Systems (TSE:PSI) last posted its quarterly earnings data on Wednesday, May 1st. The company reported C$0.22 earnings per share for the quarter, topping the consensus estimate of C$0.17 by C$0.05. The business had revenue of C$82.14 million for the quarter, compared to analyst estimates of C$74.40 million. As a group, sell-side analysts predict that Pason Systems will post 0.9700001 earnings per share for the current fiscal year.

The firm also recently disclosed a monthly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 28th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, June 13th. This represents a $2.16 annualized dividend and a dividend yield of 12.10%. Pason Systems’s dividend payout ratio is presently 87.65%.

Pason Systems Company Profile

Pason Systems Inc provides instrumentation and data management systems for drilling rigs. The company offers Electronic AutoDriller, which maximizes the rate of penetration by monitoring multiple drilling parameters; Electronic Choke Actuator that provides a means of remotely controlling the choke valve; and Electronic Drilling Recorder.

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