Pason Systems (TSE:PSI) Given New C$17.00 Price Target at Barclays

Pason Systems (TSE:PSIGet Rating) had its target price hoisted by Barclays from C$16.00 to C$17.00 in a research note released on Wednesday morning, MarketBeat reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts also recently weighed in on the company. Royal Bank of Canada upped their price target on Pason Systems from C$22.00 to C$23.00 and gave the stock an outperform rating in a research note on Monday, May 2nd. Stifel Nicolaus increased their target price on Pason Systems from C$20.00 to C$21.00 in a report on Tuesday, May 3rd. BMO Capital Markets reissued a buy rating and issued a C$23.00 price target (up previously from C$22.00) on shares of Pason Systems in a research report on Friday, April 29th. Finally, National Bankshares upped their price objective on shares of Pason Systems from C$15.25 to C$19.00 and gave the stock a sector perform rating in a report on Tuesday, April 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of C$19.58.

TSE:PSI opened at C$15.60 on Wednesday. The company has a quick ratio of 4.18, a current ratio of 4.26 and a debt-to-equity ratio of 2.16. Pason Systems has a twelve month low of C$7.50 and a twelve month high of C$17.12. The company has a fifty day moving average of C$15.38 and a 200-day moving average of C$12.93. The firm has a market capitalization of C$1.28 billion and a P/E ratio of 26.76.

Pason Systems (TSE:PSIGet Rating) last posted its quarterly earnings results on Tuesday, February 22nd. The company reported C$0.14 earnings per share for the quarter, beating the consensus estimate of C$0.13 by C$0.01. The company had revenue of C$62.83 million during the quarter, compared to the consensus estimate of C$60.95 million. On average, analysts anticipate that Pason Systems will post 0.99 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Tuesday, March 15th were issued a dividend of $0.08 per share. The ex-dividend date was Monday, March 14th. This represents a $0.32 annualized dividend and a yield of 2.05%. This is an increase from Pason Systems’s previous quarterly dividend of $0.05. Pason Systems’s dividend payout ratio is 39.45%.

About Pason Systems (Get Rating)

Pason Systems Inc, an energy services and technology company, provides data management systems for drilling rigs in Canada, the United States, and internationally. The company offers Electronic Drilling Recorder, which monitors and records drilling operations around the rig; DataHub for storing data and information collected from the rig for on-demand retrieval; DataLink service provides direct connection interfaces for IT systems and analytics tools; Pason Live for monitoring rig operations in real-time using desktop computers or mobile devices; and daily and end-of-well KPI reports provide visual statistics on rig performance.

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