Pason Systems (TSE:PSI) Hits New 1-Year High - Here's What Happened

Key Points

• Pason Systems hit a new 52-week high, trading as high as C$13.71 (last C$13.69) on Friday with about 160,185 shares changing hands and the stock up roughly 2.9%.
• Analyst view is cautious: National Bank Financial cut its target to C$15.50 and set a "sector perform" rating; the consensus rating is "Hold" with a consensus target of C$14.17.
• Recent results and payout: Pason reported Q EPS of C$0.10 on C$108.71M revenue and announced a quarterly dividend of C$0.13 (C$0.52 annualized, ~3.8% yield) with a payout ratio of 76.47%.

Shares of Pason Systems Inc. (TSE:PSI - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as C$13.71 and last traded at C$13.69, with a volume of 160185 shares changing hands. The stock had previously closed at C$13.31.

Wall Street Analyst Weigh In

Separately, National Bank Financial dropped their price objective on shares of Pason Systems from C$17.00 to C$15.50 and set a "sector perform" rating on the stock in a research note on Friday, January 9th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Pason Systems presently has a consensus rating of "Hold" and a consensus target price of C$14.17.

Pason Systems Trading Up 2.9%

The company has a fifty day moving average of C$12.65 and a two-hundred day moving average of C$12.21. The company has a quick ratio of 3.54, a current ratio of 1.98 and a debt-to-equity ratio of 10.90. The stock has a market capitalization of C$1.06 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 10.78 and a beta of 0.64.

Pason Systems (TSE:PSI - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported C$0.10 EPS for the quarter. The company had revenue of C$108.71 million during the quarter. Pason Systems had a net margin of 12.68% and a return on equity of 10.80%. On average, research analysts expect that Pason Systems Inc. will post 1.229765 EPS for the current year.

Pason Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, March 17th. Pason Systems's payout ratio is currently 76.47%.

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.

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