Pason Systems (TSE:PSI) Insider Sells 13,000 Shares of Stock

Key Points

• Insider sale: Lars Olesen sold 13,000 Pason Systems shares at an average C$14.60, worth C$189,800, reducing his direct ownership by 59.63% to 8,800 shares.
• Financial performance: Pason Systems reported quarterly revenue of C$100.78 million and EPS of C$0.18, with an 11.53% net margin and 9.71% return on equity.
• Market outlook: Shares recently traded at C$14.52, while analysts maintain a consensus “Moderate Buy” rating and a C$15.83 target price. The company also offers a C$0.13 quarterly dividend, yielding about 3.6% annually.

Pason Systems Inc. (TSE:PSI - Get Free Report) insider Lars Olesen sold 13,000 shares of Pason Systems stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of C$14.60, for a total value of C$189,800.00. Following the sale, the insider directly owned 8,800 shares in the company, valued at approximately C$128,480. This trade represents a 59.63% decrease in their ownership of the stock.

Pason Systems Stock Performance

PSI traded down C$0.04 on Monday, hitting C$14.52. 97,622 shares of the stock traded hands, compared to its average volume of 246,015. The business has a fifty day moving average price of C$12.90 and a two-hundred day moving average price of C$13.16. The company has a current ratio of 2.29, a quick ratio of 3.54 and a debt-to-equity ratio of 5.51. The firm has a market capitalization of C$1.13 billion, a PE ratio of 23.42, a P/E/G ratio of 10.78 and a beta of 0.43. Pason Systems Inc. has a 52 week low of C$11.09 and a 52 week high of C$15.47.

Pason Systems (TSE:PSI - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported C$0.18 EPS for the quarter. Pason Systems had a return on equity of 9.71% and a net margin of 11.53%.The company had revenue of C$100.78 million during the quarter. On average, research analysts predict that Pason Systems Inc. will post 1.229765 EPS for the current fiscal year.

Pason Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, June 16th. Pason Systems's dividend payout ratio is presently 83.87%.

Wall Street Analysts Forecast Growth

PSI has been the topic of a number of recent research reports. TD Securities upgraded shares of Pason Systems from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 5th. TD decreased their target price on shares of Pason Systems from C$18.00 to C$15.00 and set a "hold" rating on the stock in a research report on Monday, July 13th. Finally, Royal Bank Of Canada upped their target price on shares of Pason Systems from C$16.00 to C$17.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$15.83.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source