Trican Well Service (TSE:TCW) Posts Quarterly Earnings Results

Trican Well Service (TSE:TCW) released its quarterly earnings data on Tuesday. The company reported C$0.23 EPS for the quarter, FiscalAI reports. Trican Well Service had a return on equity of 12.81% and a net margin of 7.60%. The business had revenue of C$338.30 million for the quarter.

Trican Well Service Stock Up 1.2%

TCW opened at C$6.92 on Wednesday. The business’s 50-day simple moving average is C$6.30 and its 200-day simple moving average is C$6.76. The company has a debt-to-equity ratio of 3.24, a quick ratio of 1.75 and a current ratio of 1.77. Trican Well Service has a one year low of C$5.19 and a one year high of C$8.40. The stock has a market capitalization of C$1.45 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 0.22 and a beta of -0.29.

Trican Well Service Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.0550 per share. The ex-dividend date was Tuesday, September 15th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 3.2%. Trican Well Service’s payout ratio is 51.16%.

Insider Buying and Selling

In other Trican Well Service news, Director Stuart O’connor bought 20,000 shares of the stock in a transaction dated Wednesday, September 30th. The shares were acquired at an average cost of C$6.05 per share, for a total transaction of C$121,000.00. Following the completion of the transaction, the director owned 26,250 shares in the company, valued at approximately C$158,812.50. The trade was a 320.00% increase in their position. Also, Director Thomas Malcolm Alford bought 5,000 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was acquired at an average cost of C$5.88 per share, for a total transaction of C$29,400.00. Following the completion of the acquisition, the director directly owned 50,000 shares in the company, valued at approximately C$294,000. This trade represents a 11.11% increase in their ownership of the stock. In the last quarter, insiders acquired 26,000 shares of company stock valued at $156,220. 0.62% of the stock is owned by company insiders.

Analyst Ratings Changes

TCW has been the subject of several recent analyst reports. TD Securities upgraded Trican Well Service from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Raymond James Financial dropped their price target on shares of Trican Well Service from C$7.50 to C$6.75 and set a “market perform” rating on the stock in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Trican Well Service has a consensus rating of “Moderate Buy” and a consensus target price of C$7.71.

About Trican Well Service

Headquartered in Calgary, Alberta, Trican supplies oil and natural gas well servicing equipment and solutions to our customers through the drilling, completion, and production cycles. Our team of technical experts provide state of the art equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada. Trican is the largest pressure pumping service company in Canada.