Pason Systems (TSE:PSI) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Pason Systems Inc. (TSE:PSI) shares passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of C$13.46 and traded as low as C$13.13. Pason Systems shares last traded at C$13.39, with a volume of 257,053 shares traded.

Analyst Ratings Changes

Several research analysts have commented on the stock. TD lowered shares of Pason Systems from a “buy” rating to a “hold” rating and set a C$15.00 price objective for the company. in a report on Tuesday, October 20th. National Bank Financial lifted their target price on Pason Systems from C$15.50 to C$17.00 and gave the company a “sector perform” rating in a report on Monday, October 26th. Royal Bank Of Canada increased their target price on Pason Systems from C$16.00 to C$17.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Finally, TD Securities cut shares of Pason Systems from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 20th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of C$16.33.

Pason Systems Trading Down 0.7%

The stock has a market cap of C$1.04 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 10.78 and a beta of 0.65. The company has a debt-to-equity ratio of 5.51, a current ratio of 2.29 and a quick ratio of 3.54. The business’s 50 day moving average is C$14.31 and its 200 day moving average is C$13.46.

Pason Systems (TSE:PSI) last released its earnings results on Tuesday, August 11th. The company reported C$0.18 EPS for the quarter. The business had revenue of C$100.78 million during the quarter. Pason Systems had a net margin of 11.53% and a return on equity of 9.71%. As a group, equities analysts expect that Pason Systems Inc. will post 1.23 earnings per share for the current fiscal year.

Pason Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were issued a $0.13 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.9%. Pason Systems’s payout ratio is 83.87%.

Insider Buying and Selling

In other news, insider Bryce Mclean sold 16,700 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of C$14.60, for a total transaction of C$243,820.00. Following the completion of the transaction, the insider owned 8,853 shares of the company’s stock, valued at approximately C$129,253.80. This represents a 65.35% decrease in their ownership of the stock. Also, insider Jonathan Faber sold 45,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of C$14.55, for a total value of C$654,750.00. Following the completion of the sale, the insider owned 42,000 shares of the company’s stock, valued at C$611,100. This trade represents a 51.72% decrease in their ownership of the stock. Insiders sold a total of 100,191 shares of company stock valued at $1,455,400 in the last ninety days. Company insiders own 0.13% of the company’s stock.

About Pason Systems

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.