Trican Well Service (TSE:TCW) Stock Rating Lowered by Royal Bank Of Canada

Key Points

• Royal Bank of Canada downgraded Trican Well Service from an Outperform to a Sector Perform rating and set a C$7.50 price target, implying roughly an 11.9% upside from the prior close.
• National Bank Financial raised its target to C$8.00 while also assigning a Sector Perform rating; the consensus among analysts is a Hold with an average target of C$6.75.
• Shares fell about 6.8% to C$6.70 on heavy volume; the company reported quarterly EPS of C$0.15 on C$322.73M revenue and trades at a P/E of 11.75 with a C$1.41B market cap.

Trican Well Service (TSE:TCW - Get Free Report) was downgraded by investment analysts at Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report issued on Tuesday,BayStreet.CA reports. They currently have a C$7.50 price objective on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 11.94% from the stock's previous close.

Separately, National Bank Financial raised their price objective on shares of Trican Well Service from C$6.50 to C$8.00 and gave the stock a "sector perform" rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of C$6.75.

Trican Well Service Stock Down 6.8%

TCW stock traded down C$0.49 during midday trading on Tuesday, reaching C$6.70. 1,685,207 shares of the company were exchanged, compared to its average volume of 736,412. The company has a debt-to-equity ratio of 19.28, a quick ratio of 1.75 and a current ratio of 2.49. Trican Well Service has a 1-year low of C$3.98 and a 1-year high of C$7.94. The stock's 50-day simple moving average is C$7.08 and its 200 day simple moving average is C$6.34. The company has a market cap of C$1.41 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 0.22 and a beta of -0.30.

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 for the quarter. Trican Well Service had a net margin of 10.23% and a return on equity of 19.03%. The company had revenue of C$322.73 million for the quarter.

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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