Pason Systems (TSE:PSI) Stock Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• Pason Systems Inc. shares fell below their 200-day moving average of C$11.90, trading at C$11.75, indicating potential concerns among investors.
• Recent analyst downgrades have affected the stock, with TD Securities lowering its rating from "buy" to "hold," and Royal Bank of Canada reducing its price target from C$16.00 to C$14.00.
• The company announced a quarterly dividend of $0.13 per share, representing a 4.4% yield, with a payout ratio of 55.91%.

Pason Systems Inc. (TSE:PSI - Get Free Report) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$11.90 and traded as low as C$11.64. Pason Systems shares last traded at C$11.75, with a volume of 77,886 shares traded.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. TD Securities downgraded shares of Pason Systems from a "buy" rating to a "hold" rating and set a C$13.00 price target on the stock. in a research report on Friday, July 18th. Royal Bank Of Canada reduced their price target on shares of Pason Systems from C$16.00 to C$14.00 and set an "outperform" rating on the stock in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of C$15.50.

Pason Systems Trading Up 0.6%

The company has a debt-to-equity ratio of 3.19, a quick ratio of 3.54 and a current ratio of 2.59. The company has a market capitalization of C$917.15 million, a price-to-earnings ratio of 12.63, a P/E/G ratio of 10.78 and a beta of 0.73. The business's 50-day simple moving average is C$11.77 and its 200-day simple moving average is C$11.90.

Pason Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were given a dividend of $0.13 per share. The ex-dividend date was Monday, September 15th. This represents a $0.52 dividend on an annualized basis and a yield of 4.4%. Pason Systems's dividend payout ratio is presently 55.91%.

Insider Transactions at Pason Systems

In other Pason Systems news, insider Celine Boston sold 11,250 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of C$11.87, for a total transaction of C$133,537.50. Following the transaction, the insider directly owned 1,893 shares in the company, valued at approximately C$22,469.91. This represents a 85.60% decrease in their position. Also, insider Kevin Boston sold 3,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of C$11.94, for a total transaction of C$35,820.00. Following the transaction, the insider owned 7,300 shares in the company, valued at approximately C$87,162. The trade was a 29.13% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 15,750 shares of company stock worth $187,133. Corporate insiders own 0.13% of the company's stock.

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.

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