Trican Well Service (TSE:TCW) Stock Passes Above 200-Day Moving Average of $4.23

Shares of Trican Well Service Ltd. (TSE:TCW) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$4.23 and traded as high as C$4.25. Trican Well Service shares last traded at C$4.19, with a volume of 866,758 shares trading hands.

Wall Street Analysts Forecast Growth

TCW has been the subject of several recent research reports. BMO Capital Markets lowered their price objective on Trican Well Service from C$6.00 to C$5.00 in a research report on Thursday, March 28th. Raymond James set a C$4.50 target price on Trican Well Service and gave the company a “market perform” rating in a report on Tuesday, January 16th. TD Securities decreased their target price on Trican Well Service from C$4.75 to C$4.50 and set a “hold” rating for the company in a report on Friday, February 23rd. Finally, Stifel Nicolaus decreased their target price on Trican Well Service from C$6.50 to C$6.00 and set a “buy” rating for the company in a report on Wednesday, January 10th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$5.46.

Trican Well Service Stock Performance

The company has a market capitalization of C$860.46 million, a PE ratio of 7.62, a PEG ratio of 0.22 and a beta of 1.82. The company has a 50 day moving average of C$4.22 and a two-hundred day moving average of C$4.23. The company has a debt-to-equity ratio of 3.51, a current ratio of 2.06 and a quick ratio of 1.75.

Trican Well Service (TSE:TCW) last issued its quarterly earnings results on Wednesday, February 21st. The company reported C$0.14 earnings per share for the quarter, hitting the consensus estimate of C$0.14. The company had revenue of C$254.92 million for the quarter, compared to analysts’ expectations of C$244.57 million. Trican Well Service had a return on equity of 23.69% and a net margin of 12.44%. As a group, equities research analysts predict that Trican Well Service Ltd. will post 0.4946746 earnings per share for the current year.

Trican Well Service Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 29th were paid a $0.045 dividend. This is a boost from Trican Well Service’s previous quarterly dividend of $0.04. This represents a $0.18 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Thursday, March 14th. Trican Well Service’s dividend payout ratio is currently 32.73%.

About Trican Well Service

Trican Well Service Ltd., an equipment 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. The company offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, cement design, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services.