Pason Systems (TSE:PSI) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

Pason Systems Inc. (TSE:PSI) crossed 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 Analyst Weigh In

PSI has been the subject of a number of research reports. TD raised shares of Pason Systems from a “hold” rating to a “buy” rating and raised their price target for the company from C$13.00 to C$18.00 in a report on Tuesday, May 5th. TD Securities upgraded Pason Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$15.12.

Pason Systems Trading Down 0.5%

The company has a debt-to-equity ratio of 5.79, a current ratio of 2.11 and a quick ratio of 3.54. The business has a 50 day moving average of C$13.61 and a 200 day moving average of C$12.98. The firm has a market capitalization of C$996.41 million, a price-to-earnings ratio of 21.42, a PEG ratio of 10.78 and a beta of 0.46.

Pason Systems (TSE:PSI) last posted its earnings results on Thursday, May 7th. The company reported C$0.17 earnings per share (EPS) for the quarter. The company had revenue of C$102.44 million during the quarter. Pason Systems had a return on equity of 9.49% and a net margin of 11.31%. As a group, research analysts predict that Pason Systems Inc. will post 1.229765 earnings per share for the current fiscal year.

Pason Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a dividend of $0.13 per share. The ex-dividend date was Tuesday, June 16th. This represents a $0.52 dividend on an annualized basis and a yield of 4.0%. Pason Systems’s payout ratio is currently 86.67%.

Insiders Place Their Bets

In related news, insider Russell Smith sold 13,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of C$14.66, for a total value of C$190,580.00. Following the completion of the sale, the insider owned 8,000 shares in the company, valued at C$117,280. This represents a 61.90% decrease in their position. Also, insider Kevin Boston sold 2,000 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of C$14.74, for a total value of C$29,480.00. Following the completion of the sale, the insider owned 7,300 shares of the company’s stock, valued at C$107,602. This trade represents a 21.51% decrease in their ownership of the stock. Insiders have sold 57,210 shares of company stock worth $831,411 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.

About Pason Systems

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.