Trican Well Service (TSE:TCW) Reaches New 1-Year High – Still a Buy?

Trican Well Service Ltd. (TSE:TCW) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$8.07 and last traded at C$8.02, with a volume of 612519 shares traded. The stock had previously closed at C$7.89.

Analyst Ratings Changes

Several research analysts recently issued reports on TCW shares. ATB Cormark Capital Markets increased their price target on shares of Trican Well Service from C$8.00 to C$8.50 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. National Bank Financial increased their price target on shares of Trican Well Service from C$6.50 to C$8.00 and gave the stock a “sector perform” rating in a research note on Friday, February 20th. Royal Bank Of Canada increased their price target on shares of Trican Well Service from C$7.50 to C$8.50 and gave the stock a “sector perform” rating in a research note on Wednesday, May 13th. Finally, BMO Capital Markets upgraded shares of Trican Well Service from a “market perform” rating to an “outperform” rating and increased their price target for the stock from C$7.00 to C$9.00 in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Trican Well Service currently has an average rating of “Hold” and an average price target of C$7.67.

Trican Well Service Stock Performance

The company has a current ratio of 2.23, a quick ratio of 1.75 and a debt-to-equity ratio of 7.60. The company’s 50 day moving average is C$7.18 and its 200-day moving average is C$6.55. The company has a market capitalization of C$1.68 billion, a P/E ratio of 14.85, a price-to-earnings-growth ratio of 0.22 and a beta of -0.27.

Trican Well Service (TSE:TCW) last issued its quarterly earnings results on Tuesday, May 12th. The company reported C$0.14 earnings per share (EPS) for the quarter. The company had revenue of C$330.27 million during the quarter. Trican Well Service had a net margin of 9.47% and a return on equity of 17.25%.

Trican Well Service Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, March 13th. Trican Well Service’s dividend payout ratio is 39.81%.

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.