Trican Well Service (TSE:TCW) Stock Price Down 8.1% Following Analyst Downgrade

Trican Well Service Ltd. (TSE:TCW) dropped 8.1% during trading 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. Approximately 490,933 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 716,708 shares. The stock had previously closed at C$7.19.

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

Trican Well Service Stock Performance

The company has a current ratio of 2.49, a quick ratio of 1.75 and a debt-to-equity ratio of 19.28. 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 firm’s 50-day simple moving average is C$7.06 and its two-hundred day simple moving average is C$6.35.

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

Trican Well Service Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders 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 was Friday, March 13th. Trican Well Service’s dividend payout ratio is currently 36.84%.

Trican Well Service Company Profile

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.