Trican Well Service (TSE:TCW) Reaches New 52-Week High – Here’s What Happened

Trican Well Service Ltd. (TSE:TCW)’s stock price reached a new 52-week high on Thursday . The stock traded as high as C$7.36 and last traded at C$7.32, with a volume of 314004 shares. The stock had previously closed at C$7.22.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TCW shares. ATB Cormark Capital Markets set a C$7.00 price objective on Trican Well Service and gave the company an “outperform” rating in a research note on Friday, December 5th. 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. Finally, Raymond James Financial cut shares of Trican Well Service from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$6.75.

Trican Well Service Price Performance

The company has a fifty day simple moving average of C$6.85 and a 200 day simple moving average of C$6.17. The stock has a market capitalization of C$1.55 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 0.22 and a beta of -0.05. The company has a debt-to-equity ratio of 19.28, a quick ratio of 1.75 and a current ratio of 2.49.

Trican Well Service (TSE:TCW) last issued its quarterly earnings results on Wednesday, February 18th. The company reported C$0.15 earnings per share for the quarter. The company had revenue of C$322.73 million during the quarter. Trican Well Service had a return on equity of 19.03% and a net margin of 10.23%.

Trican Well Service Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, March 13th. Trican Well Service’s dividend payout ratio is currently 36.84%.

About Trican Well Service

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.