Trican Well Service (TSE:TCW) Stock Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Trican shares crossed above their 200‑day moving average, with the 200‑day MA at C$6.34 and the stock trading as high as C$7.42 (last C$7.19) on volume of 690,591 shares.
• Analyst update: National Bank Financial raised its target from C$6.50 to C$8.00 and the consensus is a "Moderate Buy" (three Buy, three Hold) with an average price target of C$6.75.
• Solid fundamentals and income: the company reported Q results of C$0.15 EPS on C$322.7M revenue, a 19.03% ROE and declared a quarterly dividend of C$0.055 (annualized C$0.22, yield 3.1%, payout ratio 36.84%).

Trican Well Service Ltd. (TSE:TCW - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$6.34 and traded as high as C$7.42. Trican Well Service shares last traded at C$7.19, with a volume of 690,591 shares trading hands.

Analysts Set New Price Targets

Separately, National Bank Financial boosted their target price on shares of Trican Well Service from C$6.50 to C$8.00 and gave the stock a "sector perform" rating in a research note on Friday, February 20th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of C$6.75.

Trican Well Service Stock Down 1.0%

The stock has a market capitalization of C$1.51 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 0.22 and a beta of -0.30. The company has a quick ratio of 1.75, a current ratio of 2.49 and a debt-to-equity ratio of 19.28. The stock has a 50 day moving average price of C$7.08 and a 200 day moving average price of C$6.34.

Trican Well Service (TSE:TCW - Get Free Report) last released its quarterly earnings data on Thursday, February 19th. The company reported C$0.15 earnings per share (EPS) for the quarter. The company had revenue of C$322.73 million during the quarter. Trican Well Service had a return on equity of 19.03% and a net margin of 10.23%.

Trican Well Service Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 31st were given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, March 13th. Trican Well Service's dividend payout ratio is 36.84%.

About Trican Well Service

Trican Well Service Ltd is an equipment services company. It provides products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily through its continuing pressure pumping operations in Canada. The company offers services related to coiled tubing, pipeline service, cementing, fracturing and reservoir solutions.

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