National Bank Financial Trims Pason Systems (TSE:PSI) Target Price to C$17.00

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Pason Systems (TSE:PSI) had its target price lowered by National Bank Financial from C$20.00 to C$17.00 in a research report sent to investors on Thursday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock. National Bank Financial also issued estimates for Pason Systems’ Q4 2019 earnings at $0.14 EPS and FY2019 earnings at $0.65 EPS.

PSI has been the subject of a number of other research reports. BMO Capital Markets dropped their target price on shares of Pason Systems from C$24.00 to C$21.00 in a research report on Tuesday, September 10th. CIBC dropped their target price on shares of Pason Systems from C$24.00 to C$22.00 in a research report on Tuesday, October 15th.

PSI opened at C$13.80 on Thursday. The firm has a 50 day moving average price of C$15.24 and a 200 day moving average price of C$17.46. The company has a market cap of $1.20 billion and a PE ratio of 16.25. Pason Systems has a 1 year low of C$13.80 and a 1 year high of C$22.80. The company has a debt-to-equity ratio of 4.05, a quick ratio of 7.71 and a current ratio of 8.24.

Pason Systems (TSE:PSI) last posted its earnings results on Thursday, August 8th. The company reported C$0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C$0.12 by C($0.01). The company had revenue of C$72.89 million for the quarter, compared to analysts’ expectations of C$67.55 million. On average, sell-side analysts predict that Pason Systems will post 0.83 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 5.51%. The ex-dividend date is Friday, December 13th. Pason Systems’s dividend payout ratio (DPR) is 85.98%.

In other news, Senior Officer Jonathan Faber acquired 4,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was bought at an average price of C$16.50 per share, with a total value of C$66,000.00. Following the completion of the transaction, the insider now directly owns 21,500 shares of the company’s stock, valued at C$354,750. Insiders acquired 5,000 shares of company stock valued at $82,423 in the last ninety days.

About Pason Systems

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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