Pason Systems (TSE:PSI) Price Target Raised to C$17.00

Pason Systems (TSE:PSI) had its price target increased by Royal Bank Of Canada from C$16.00 to C$17.00 in a research note released on Wednesday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

PSI has been the topic of a number of other reports. TD reduced their price target on shares of Pason Systems from C$18.00 to C$15.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. TD Securities upgraded shares of Pason Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$15.83.

Pason Systems Stock Down 1.0%

Pason Systems stock opened at C$14.56 on Wednesday. The company’s 50 day simple moving average is C$12.90 and its 200 day simple moving average is C$13.15. Pason Systems has a fifty-two week low of C$11.09 and a fifty-two week high of C$15.47. The firm has a market capitalization of C$1.13 billion, a price-to-earnings ratio of 23.48, a PEG ratio of 10.78 and a beta of 0.43. The company has a debt-to-equity ratio of 5.51, a current ratio of 2.29 and a quick ratio of 3.54.

Pason Systems (TSE:PSI) last issued its earnings results on Tuesday, August 11th. The company reported C$0.18 EPS for the quarter. The firm had revenue of C$100.78 million during the quarter. Pason Systems had a net margin of 11.53% and a return on equity of 9.71%. As a group, sell-side analysts anticipate that Pason Systems will post 1.229765 EPS for the current year.

Pason Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, June 16th. Pason Systems’s dividend payout ratio is presently 83.87%.

Insider Activity at Pason Systems

In other Pason Systems news, insider Bryce Mclean sold 8,410 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of C$14.50, for a total transaction of C$121,945.00. Following the sale, the insider directly owned 8,853 shares in the company, valued at approximately C$128,368.50. This trade represents a 48.72% decrease in their position. Also, insider Kevin Boston sold 2,000 shares of Pason Systems stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of C$14.74, for a total transaction of C$29,480.00. Following the completion of the transaction, the insider directly owned 7,300 shares in the company, valued at approximately C$107,602. The trade was a 21.51% decrease in their position. Over the last 90 days, insiders have sold 44,210 shares of company stock valued at $640,831. Corporate 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.