Brokerages Set Trican Well Service Ltd (TCW) PT at $2.98

Trican Well Service Ltd (TSE:TCW) has received an average recommendation of “Hold” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is C$2.98.

Several research analysts recently issued reports on the stock. Canaccord Genuity cut their price target on shares of Trican Well Service from C$4.50 to C$4.25 in a report on Friday, August 17th. Royal Bank of Canada cut shares of Trican Well Service from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from C$5.00 to C$3.50 in a report on Thursday, September 20th. National Bank Financial cut their price target on shares of Trican Well Service from C$5.00 to C$3.50 and set an “outperform” rating for the company in a report on Wednesday, September 26th. Raymond James cut shares of Trican Well Service from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from C$6.25 to C$4.50 in a report on Friday, September 21st. Finally, Evercore cut shares of Trican Well Service from an “outperform” rating to an “in-line” rating and cut their price target for the stock from C$4.00 to C$3.00 in a report on Tuesday, October 16th.

In related news, insider Shaun Patrick Kelly bought 20,000 shares of the company’s stock in a transaction on Wednesday, September 5th. The stock was bought at an average cost of C$2.75 per share, with a total value of C$55,000.00.

TSE TCW traded down C$0.12 during trading hours on Monday, hitting C$1.22. 4,015,000 shares of the stock were exchanged, compared to its average volume of 2,884,056. Trican Well Service has a 12-month low of C$1.20 and a 12-month high of C$4.84. The company has a debt-to-equity ratio of 13.90, a current ratio of 2.47 and a quick ratio of 2.00.

Trican Well Service (TSE:TCW) last posted its quarterly earnings results on Thursday, November 8th. The company reported C($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.02 by C($0.06). The company had revenue of C$253.74 million for the quarter, compared to analysts’ expectations of C$257.97 million. On average, analysts predict that Trican Well Service will post -0.02 EPS for the current year.

About Trican Well Service

Trican Well Service Ltd., an oilfield services company, provides various specialized products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily in Canada. It offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, gas migration prevention, cement design solutions, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services; and cement pumpers, bulk equipment, and cement auxiliary equipment.

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Analyst Recommendations for Trican Well Service (TSE:TCW)

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