Pason Systems (TSE:PSI) Stock Passes Below 200-Day Moving Average - Here's Why

Key Points

• Pason Systems' share price has fallen below its 200-day moving average of C$12.25, trading as low as C$11.09 and last at C$11.35.
• TD Securities has downgraded Pason Systems from a "buy" to a "hold" rating, with a target price set at C$13.00.
• The company has declared a quarterly dividend of $0.13 per share, with a dividend yield of 4.6% and a payout ratio of 36.70%.

Pason Systems Inc. (TSE:PSI - Get Free Report) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$12.25 and traded as low as C$11.09. Pason Systems shares last traded at C$11.35, with a volume of 145,747 shares traded.

Wall Street Analysts Forecast Growth

Separately, TD Securities downgraded Pason Systems from a "buy" rating to a "hold" rating and set a C$13.00 target price for the company. in a report on Friday, July 18th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of C$16.63.

Pason Systems Stock Performance

The firm has a market cap of C$956.83 million, a price-to-earnings ratio of 8.48, a P/E/G ratio of 10.78 and a beta of 1.58. The stock has a 50 day moving average of C$12.10 and a 200 day moving average of C$12.19. The company has a quick ratio of 3.54, a current ratio of 2.59 and a debt-to-equity ratio of 3.19.

Pason Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Monday, June 16th. Pason Systems's payout ratio is 36.70%.

Insider Buying and Selling

In other Pason Systems news, Senior Officer Lars Olesen sold 2,200 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of C$12.02, for a total transaction of C$26,444.00. Also, Senior Officer Jonathan Faber sold 2,600 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of C$12.33, for a total value of C$32,058.00. Insiders sold 14,500 shares of company stock worth $179,122 in the last ninety days. 0.13% of the stock is owned by company insiders.

Pason Systems Company Profile

Pason Systems Inc, together with its subsidiaries, provides instrumentation and data management systems for drilling rigs in Canada, the United States, and internationally. The company provides Electronic Drilling Recorder, which provides real-time drilling data to rig site personnel; DataHub with Pason Live, which is used as the central repository for data and reports captured at the rigs for real-time; and DataLink that provides automated in-house databases, third-party analytics platforms, remote geosteering, and other remote services.