Pason Systems (TSE:PSI) Posts Quarterly Earnings Results

Pason Systems (TSE:PSI) issued its earnings results on Tuesday. The company reported C$0.18 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$100.78 million for the quarter. Pason Systems had a net margin of 11.31% and a return on equity of 9.49%.

Pason Systems Stock Performance

PSI stock traded up C$0.30 during midday trading on Tuesday, reaching C$12.79. 511,239 shares of the company were exchanged, compared to its average volume of 241,628. Pason Systems has a one year low of C$11.09 and a one year high of C$15.47. The firm has a market capitalization of C$991.76 million, a price-to-earnings ratio of 21.32, a price-to-earnings-growth ratio of 10.78 and a beta of 0.43. The business has a 50-day moving average price of C$12.92 and a two-hundred day moving average price of C$13.10. The company has a debt-to-equity ratio of 5.79, a current ratio of 2.11 and a quick ratio of 3.54.

Pason Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, June 16th. Pason Systems’s payout ratio is 86.67%.

Wall Street Analyst Weigh In

A number of analysts have commented on PSI shares. TD cut their price target on shares of Pason Systems from C$18.00 to C$15.00 and set a “hold” rating for the company in a research note on Monday, July 13th. TD Securities upgraded shares of Pason Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$14.83.

Insider Activity at Pason Systems

In other news, insider Bryce Mclean sold 8,410 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of C$14.50, for a total value of C$121,945.00. Following the transaction, the insider directly owned 8,853 shares of the company’s stock, valued at C$128,368.50. This represents a 48.72% decrease in their ownership of the stock. Also, insider Ryan Van Beurden sold 15,000 shares of Pason Systems stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of C$14.49, for a total transaction of C$217,350.00. Following the sale, the insider directly owned 11,000 shares of the company’s stock, valued at C$159,390. The trade was a 57.69% decrease in their position. Insiders sold 44,210 shares of company stock valued at $640,831 over the last three months. Company insiders own 0.13% of the company’s stock.

Pason Systems Company Profile

Pason Systems Inc is an oilfield specialist with fully integrated drilling data solutions. A host of products allow customers to collect, manage, report, and analyze drilling data for performance optimization and cost control. The electronic drilling recorder is the company’s primary product, and provides a complete system of drilling data acquisition, data networking, drilling management tools, and reports at both the wellsite and customer office. Other product offerings include wellbore detection solutions, wellsite communications and bandwidth, wellbore gas analyzers, and software for data management.