Raymond James Financial Has Lowered Expectations for Trican Well Service (TSE:TCW) Stock Price

Key Points

• Raymond James Financial lowered its price target for Trican Well Service from C$7.50 to C$6.75 while maintaining a “market perform” rating, implying 15.19% upside from the previous close.
• Analyst sentiment remains mixed: Trican has an average “Hold” rating and a consensus price target of C$7.71, with recent target increases from RBC, ATB Cormark, and BMO Capital Markets.
• Trican shares closed at C$5.86, below their 50-day and 200-day moving averages of about C$7.00. The company most recently reported quarterly revenue of C$214.6 million and earnings of C$0.01 per share.

Trican Well Service (TSE:TCW - Get Free Report) had its price target lowered by stock analysts at Raymond James Financial from C$7.50 to C$6.75 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a "market perform" rating on the stock. Raymond James Financial's price objective suggests a potential upside of 15.19% from the stock's previous close.

TCW has been the subject of a number of other research reports. Royal Bank Of Canada lifted their price target on Trican Well Service from C$7.50 to C$8.50 and gave the company a "sector perform" rating in a research report on Wednesday, May 13th. ATB Cormark Capital Markets lifted their target price on shares of Trican Well Service from C$8.00 to C$8.50 and gave the company an "outperform" rating in a research report on Wednesday, May 13th. Finally, BMO Capital Markets raised shares of Trican Well Service from a "market perform" rating to an "outperform" rating and increased their price target for the stock from C$7.00 to C$9.00 in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of C$7.71.

Trican Well Service Price Performance

TSE TCW traded down C$0.03 on Thursday, hitting C$5.86. The stock had a trading volume of 813,277 shares, compared to its average volume of 668,632. The firm has a 50-day moving average of C$7.00 and a 200-day moving average of C$7.01. The company has a debt-to-equity ratio of 7.60, a quick ratio of 1.75 and a current ratio of 2.23. Trican Well Service has a 52-week low of C$5.19 and a 52-week high of C$8.40. The company has a market capitalization of C$1.23 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 0.22 and a beta of -0.41.

Trican Well Service (TSE:TCW - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The company reported C($0.01) earnings per share for the quarter. The firm had revenue of C$214.60 million during the quarter. Trican Well Service had a return on equity of 17.25% and a net margin of 9.47%.

Trican Well Service Company Profile

Headquartered in Calgary, Alberta, Trican supplies oil and natural gas well servicing equipment and solutions to our customers through the drilling, completion, and production cycles. Our team of technical experts provide state of the art equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada. Trican is the largest pressure pumping service company in Canada.

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