Trican Well Service (TSE:TCW) Price Target Cut to C$1.00

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Trican Well Service (TSE:TCW) had its price objective decreased by BMO Capital Markets from C$1.75 to C$1.00 in a report issued on Friday, BayStreet.CA reports.

Several other research firms have also weighed in on TCW. Canaccord Genuity reduced their target price on Trican Well Service from C$1.55 to C$1.20 in a report on Tuesday, July 9th. Cormark reduced their target price 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 reduced their target price for the stock from C$2.00 to C$1.50 in a report on Thursday, July 18th. National Bank Financial reduced 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 report on Thursday, August 1st. Finally, Raymond James lowered Trican Well Service from a strong-buy rating to an outperform rating and reduced their target price for the stock from C$3.00 to C$2.25 in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of C$1.54.

TSE:TCW opened at C$0.92 on Friday. Trican Well Service has a 12-month low of C$0.90 and a 12-month high of C$3.23. The company has a debt-to-equity ratio of 9.84, a current ratio of 2.08 and a quick ratio of 1.75. The company has a market cap of $270.95 million and a price-to-earnings ratio of -1.35. The business has a fifty day moving average of C$1.07.

Trican Well Service (TSE:TCW) last posted its quarterly earnings results on Thursday, May 9th. The company reported C($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C($0.03) by C$0.01. The company had revenue of C$245.68 million during the quarter, compared to the consensus estimate of C$230.47 million. On average, sell-side analysts predict that Trican Well Service will post -0.08 earnings per share for the current year.

Trican Well Service Company Profile

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.

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Analyst Recommendations for Trican Well Service (TSE:TCW)

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