Pason Systems (TSE:PSI) Hits New 12-Month High at $17.38

Shares of Pason Systems Inc. (TSE:PSIGet Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as C$17.38 and last traded at C$17.25, with a volume of 173508 shares traded. The stock had previously closed at C$17.10.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PSI shares. BMO Capital Markets increased their price objective on Pason Systems from C$18.00 to C$20.00 in a research note on Tuesday, April 23rd. TD Securities boosted their target price on shares of Pason Systems from C$21.00 to C$22.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$18.83.

Get Our Latest Stock Analysis on Pason Systems

Pason Systems Trading Down 0.3 %

The stock’s fifty day simple moving average is C$16.11 and its 200-day simple moving average is C$15.21. The company has a debt-to-equity ratio of 3.44, a current ratio of 2.65 and a quick ratio of 3.54. The firm has a market cap of C$1.37 billion, a PE ratio of 10.52, a PEG ratio of 10.78 and a beta of 1.70.

Pason Systems (TSE:PSIGet Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported C$0.87 earnings per share for the quarter, topping the consensus estimate of C$0.29 by C$0.58. The company had revenue of C$104.76 million for the quarter, compared to the consensus estimate of C$107.00 million. Pason Systems had a net margin of 34.92% and a return on equity of 30.12%. On average, sell-side analysts forecast that Pason Systems Inc. will post 1.2097147 earnings per share for the current year.

Pason Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 28th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Friday, June 14th. Pason Systems’s dividend payout ratio is currently 31.71%.

Insider Buying and Selling at Pason Systems

In other Pason Systems news, Senior Officer Lars Olesen sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of C$15.90, for a total value of C$357,750.00. In related news, Senior Officer Lars Olesen sold 22,500 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of C$15.90, for a total transaction of C$357,750.00. Also, Senior Officer Russell Smith sold 13,000 shares of Pason Systems stock in a transaction on Friday, May 24th. The shares were sold at an average price of C$15.50, for a total transaction of C$201,500.00. In the last quarter, insiders sold 63,600 shares of company stock worth $1,017,855. Insiders own 0.31% of the company’s stock.

About Pason Systems

(Get Free Report)

Pason Systems Inc, together with its subsidiaries, provides instrumentation and data management systems for drilling rigs in Canada, the United States, and internationally. The company provides Electronic Drilling Recorder, which provides real-time drilling data to rig site personnel; DataHub with Pason Live, which is used as the central repository for data and reports captured at the rigs for real-time; and DataLink that provides automated in-house databases, third-party analytics platforms, remote geosteering, and other remote services.

Further Reading

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