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

Key Points

• Pason Systems slipped below its 200-day moving average during Wednesday trading, with shares dipping as low as C$12.63 before last trading at C$12.97.
• Despite the technical weakness, analyst sentiment is positive: TD Securities recently upgraded the stock to a buy/strong-buy view and lifted its target price to C$18.00, while the broader consensus remains a Buy with an average target of C$15.12.
• The company recently reported C$0.17 EPS on C$102.44 million in revenue and paid a C$0.13 quarterly dividend, equal to a 4.0% annualized yield. Insider selling also picked up, with several executives trimming holdings over the past three months.

Pason Systems Inc. (TSE:PSI - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$12.97 and traded as low as C$12.63. Pason Systems shares last traded at C$12.97, with a volume of 190,829 shares.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PSI. TD Securities raised shares of Pason Systems from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 5th. TD upgraded shares of Pason Systems from a "hold" rating to a "buy" rating and upped their target price for the stock from C$13.00 to C$18.00 in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Pason Systems presently has an average rating of "Buy" and an average target price of C$15.12.

Pason Systems Trading Up 3.7%

The firm has a market capitalization of C$1.01 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 10.78 and a beta of 0.46. The stock has a 50-day simple moving average of C$13.65 and a two-hundred day simple moving average of C$12.97. The company has a current ratio of 2.11, a quick ratio of 3.54 and a debt-to-equity ratio of 5.79.

Pason Systems (TSE:PSI - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported C$0.17 earnings per share (EPS) for the quarter. The business had revenue of C$102.44 million for the quarter. Pason Systems had a return on equity of 9.49% and a net margin of 11.31%. On average, equities research analysts anticipate that Pason Systems Inc. will post 1.229765 earnings per share for the current year.

Pason Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a $0.13 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $0.52 annualized dividend and a dividend yield of 4.0%. Pason Systems's payout ratio is currently 86.67%.

Insider Transactions at Pason Systems

In other news, insider Ryan Van Beurden sold 15,000 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of C$14.49, for a total transaction of C$217,350.00. Following the transaction, the insider directly owned 11,000 shares in the company, valued at approximately C$159,390. This trade represents a 57.69% decrease in their ownership of the stock. Also, insider Russell Smith sold 13,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of C$14.66, for a total transaction of C$190,580.00. Following the transaction, the insider owned 8,000 shares in the company, valued at approximately C$117,280. This represents a 61.90% decrease in their ownership of the stock. In the last three months, insiders have sold 57,210 shares of company stock worth $831,411. 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. Other product offerings include wellbore detection solutions, wellsite communications and bandwidth, wellbore gas analyzers, and software for data management.

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