Pason Systems (TSE:PSI) Trading 13.7% Higher – Still a Buy?

Pason Systems Inc. (TSE:PSI) was up 13.7% on Wednesday . The stock traded as high as C$14.61 and last traded at C$14.54. 248,570 shares traded hands during trading, an increase of 3% from the average session volume of 241,564 shares. The stock had previously closed at C$12.79.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. TD dropped their target price on Pason Systems from C$18.00 to C$15.00 and set a “hold” rating for the company in a report on Monday, July 13th. TD Securities raised shares of Pason Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Pason Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of C$14.83.

Pason Systems Price Performance

The company has a current ratio of 2.11, a quick ratio of 3.54 and a debt-to-equity ratio of 5.79. The stock has a 50 day moving average of C$12.88 and a 200-day moving average of C$13.10. The stock has a market capitalization of C$1.13 billion, a P/E ratio of 24.18, a price-to-earnings-growth ratio of 10.78 and a beta of 0.43.

Pason Systems (TSE:PSI) last posted its quarterly earnings results on Tuesday, August 11th. The company reported C$0.18 EPS for the quarter. The firm had revenue of C$100.78 million for the quarter. Pason Systems had a net margin of 11.31% and a return on equity of 9.49%. On average, equities research analysts anticipate that Pason Systems Inc. will post 1.229765 earnings per share for the current fiscal year.

Pason Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.6%. Pason Systems’s dividend payout ratio is presently 86.67%.

Insider Transactions at Pason Systems

In other Pason Systems news, insider Ryan Van Beurden sold 15,000 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of C$14.49, for a total transaction of C$217,350.00. Following the transaction, the insider directly owned 11,000 shares in the company, valued at C$159,390. This represents a 57.69% decrease in their position. Also, insider Celine Boston sold 13,200 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of C$14.46, for a total transaction of C$190,872.00. Following the transaction, the insider directly owned 1,893 shares in the company, valued at C$27,372.78. This trade represents a 87.46% decrease in their position. In the last ninety days, insiders have sold 44,210 shares of company stock worth $640,831. Corporate insiders own 0.13% of the company’s stock.

Pason Systems Company Profile

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.