Pason Systems (TSE:PSI) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Pason Systems Inc. (TSE:PSI) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$12.97 and traded as low as C$12.63. Pason Systems shares last traded at C$12.97, with a volume of 190,829 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PSI. TD Securities raised Pason Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. TD upgraded shares of Pason Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from C$13.00 to C$18.00 in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Pason Systems presently has an average rating of “Buy” and a consensus target price of C$15.12.

Pason Systems Trading Up 3.7%

The company has a market capitalization of C$1.01 billion, a price-to-earnings ratio of 21.62, a P/E/G ratio of 10.78 and a beta of 0.46. The company has a quick ratio of 3.54, a current ratio of 2.11 and a debt-to-equity ratio of 5.79. The company’s 50 day simple moving average is C$13.65 and its two-hundred day simple moving average is C$12.97.

Pason Systems (TSE:PSI) last released its quarterly earnings results on Thursday, May 7th. The company reported C$0.17 earnings per share (EPS) for the quarter. The business had revenue of C$102.44 million for the quarter. Pason Systems had a net margin of 11.31% and a return on equity of 9.49%. As a group, research analysts anticipate that Pason Systems Inc. will post 1.229765 earnings per share for the current fiscal year.

Pason Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 4.0%. The ex-dividend date was Tuesday, June 16th. Pason Systems’s payout ratio is 86.67%.

Insider Activity

In other Pason Systems news, insider Kevin Boston sold 2,000 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of C$14.74, for a total value of C$29,480.00. Following the completion of the sale, the insider directly owned 7,300 shares in the company, valued at approximately C$107,602. This trade represents a 21.51% decrease in their ownership of the stock. Also, insider Bryce Mclean sold 8,410 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of C$14.50, for a total value of C$121,945.00. Following the completion of the sale, the insider directly owned 8,853 shares of the company’s stock, valued at approximately C$128,368.50. This represents a 48.72% decrease in their position. Insiders sold 57,210 shares of company stock worth $831,411 over the last quarter. Company insiders own 0.13% of the company’s stock.

About Pason Systems

Pason Systems Inc is an oilfield specialist with fully integrated drilling data solutions. A host of products allow customers to collect, manage, report, and analyze drilling data for performance optimization and cost control. The electronic drilling recorder is the company’s primary product, and provides a complete system of drilling data acquisition, data networking, drilling management tools, and reports at both the wellsite and customer office. Other product offerings include wellbore detection solutions, wellsite communications and bandwidth, wellbore gas analyzers, and software for data management.