Trican Well Service (TSE:TCW) Lowered to “Outperform” at Raymond James

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Raymond James downgraded shares of Trican Well Service (TSE:TCW) from a strong-buy rating to an outperform rating in a research report released on Friday morning, BayStreet.CA reports. The firm currently has C$2.25 price objective on the stock, down from their previous price objective of C$3.00.

Several other analysts have also weighed in on TCW. Cormark cut their price objective on Trican Well Service from C$3.50 to C$1.75 in a report on Wednesday, May 8th. CIBC lowered Trican Well Service from an outperform rating to a neutral rating and cut their target price for the stock from C$2.00 to C$1.50 in a research report on Thursday, July 18th. Canaccord Genuity cut their target price on Trican Well Service from C$1.55 to C$1.20 in a research report on Tuesday, July 9th. National Bank Financial cut their target price on Trican Well Service from C$2.75 to C$2.00 and set an outperform rating on the stock in a research report on Thursday, August 1st. Finally, AltaCorp Capital reaffirmed an outperform rating on shares of Trican Well Service in a research report on Thursday, June 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. Trican Well Service has an average rating of Hold and a consensus price target of C$1.54.

Shares of Trican Well Service stock opened at C$0.92 on Friday. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.75 and a current ratio of 2.08. The firm has a market capitalization of $270.95 million and a price-to-earnings ratio of -1.35. The company has a fifty day moving average price of C$1.07. Trican Well Service has a fifty-two week low of C$0.90 and a fifty-two week high of C$3.23.

Trican Well Service (TSE:TCW) last announced its quarterly earnings data on Thursday, May 9th. The company reported C($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C($0.03) by C$0.01. The firm had revenue of C$245.68 million during the quarter, compared to analyst estimates of C$230.47 million. As a group, equities research analysts expect that Trican Well Service will post -0.08 EPS for the current year.

About Trican Well Service

Trican Well Service Ltd., an oilfield services company, provides various specialized products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily in Canada. It offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, gas migration prevention, cement design solutions, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services; and cement pumpers, bulk equipment, and cement auxiliary equipment.

Further Reading: Retained Earnings

Analyst Recommendations for Trican Well Service (TSE:TCW)

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