Trican Well Service (TSE:TCW) Trading Down 8.1% on Analyst Downgrade

Trican Well Service Ltd. (TSE:TCW) shares fell 8.1% on Tuesday after Royal Bank Of Canada downgraded the stock from a moderate buy rating to a hold rating. Royal Bank Of Canada now has a C$7.50 price target on the stock. Trican Well Service traded as low as C$6.60 and last traded at C$6.61. 490,933 shares were traded during trading, a decline of 32% from the average session volume of 716,708 shares. The stock had previously closed at C$7.19.

Separately, National Bank Financial boosted their target price on Trican Well Service from C$6.50 to C$8.00 and gave the company a “sector perform” rating in a research note on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Trican Well Service has a consensus rating of “Hold” and a consensus price target of C$6.75.

Trican Well Service Stock Up 1.6%

The company has a debt-to-equity ratio of 19.28, a current ratio of 2.49 and a quick ratio of 1.75. The stock has a market capitalization of C$1.44 billion, a PE ratio of 11.98, a PEG ratio of 0.22 and a beta of -0.30. The company has a 50 day moving average price of C$7.06 and a 200-day moving average price of C$6.35.

Trican Well Service (TSE:TCW) last posted its earnings results on Thursday, February 19th. The company reported C$0.15 earnings per share (EPS) for the quarter. Trican Well Service had a return on equity of 19.03% and a net margin of 10.23%.The firm had revenue of C$322.73 million for the quarter.

Trican Well Service Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, March 13th. Trican Well Service’s dividend payout ratio is presently 36.84%.

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.