Royal Bank of Canada Issues Pessimistic Forecast for Pason Systems (TSE:PSI) Stock Price

Pason Systems (TSE:PSI) had its price objective reduced by equities researchers at Royal Bank of Canada from C$18.00 to C$16.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 42.73% from the stock’s previous close.

PSI has been the subject of a number of other reports. National Bankshares decreased their price objective on Pason Systems from C$20.00 to C$19.50 and set a “sector perform” rating for the company in a research report on Thursday, December 19th. TD Securities decreased their price target on Pason Systems from C$16.00 to C$13.00 and set a “buy” rating for the company in a report on Wednesday.

Pason Systems Trading Up 2.0 %

TSE PSI opened at C$11.21 on Thursday. The firm’s fifty day moving average is C$12.51 and its two-hundred day moving average is C$13.49. Pason Systems has a one year low of C$10.43 and a one year high of C$18.59. The company has a debt-to-equity ratio of 3.19, a quick ratio of 3.54 and a current ratio of 2.59. The firm has a market cap of C$892.35 million, a PE ratio of 7.91, a P/E/G ratio of 10.78 and a beta of 1.58.

About Pason Systems

Pason Systems Inc, together with its subsidiaries, provides instrumentation and data management systems for drilling rigs in Canada, the United States, and internationally. The company provides Electronic Drilling Recorder, which provides real-time drilling data to rig site personnel; DataHub with Pason Live, which is used as the central repository for data and reports captured at the rigs for real-time; and DataLink that provides automated in-house databases, third-party analytics platforms, remote geosteering, and other remote services.