Pason Systems (TSE:PSI) Reaches New 52-Week High Following Analyst Upgrade

Key Points

• TD upgraded Pason Systems to a Buy and raised its price target to C$18 (from C$13), sending the stock to a new 52-week high of C$15.36 during trading.
• Analyst views are mixed after National Bank Financial cut its target to C$15.50; overall there are two Buy and two Hold ratings, with an average rating of "Moderate Buy" and an average price target of C$15.13.
• Pason has a C$1.20 billion market cap and a PE of 22.65; it reported C$0.10 EPS on C$108.7M revenue last quarter and recently paid a quarterly dividend that annualizes to a 3.4% yield with a payout ratio of 76.47%.

Pason Systems Inc. (TSE:PSI - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday after TD upgraded the stock from a hold rating to a buy rating. TD now has a C$18.00 price target on the stock, up from their previous price target of C$13.00. Pason Systems traded as high as C$15.36 and last traded at C$15.32, with a volume of 455158 shares. The stock had previously closed at C$13.70.

Separately, National Bank Financial dropped their price target on Pason Systems from C$17.00 to C$15.50 and set a "sector perform" rating for the company in a research report on Friday, January 9th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$15.13.

Pason Systems Trading Up 12.4%

The company has a debt-to-equity ratio of 10.90, a current ratio of 1.98 and a quick ratio of 3.54. The firm has a market cap of C$1.20 billion, a PE ratio of 22.65, a PEG ratio of 10.78 and a beta of 0.41. The business has a 50-day moving average price of C$13.02 and a two-hundred day moving average price of C$12.44.

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

Pason Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.4%. Pason Systems's dividend payout ratio (DPR) is presently 76.47%.

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.

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