Pason Systems (TSE:PSI) Sets New 1-Year High at $17.38

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

Analyst Ratings Changes

PSI has been the subject of several analyst reports. BMO Capital Markets upped their target price on Pason Systems from C$18.00 to C$20.00 in a research report on Tuesday, April 23rd. TD Securities increased their price objective on shares of Pason Systems from C$21.00 to C$22.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$18.83.

Get Our Latest Stock Report on PSI

Pason Systems Stock Performance

The company has a 50 day moving average of C$16.11 and a 200 day moving average of C$15.21. The company has a quick ratio of 3.54, a current ratio of 2.65 and a debt-to-equity ratio of 3.44. The firm has a market cap of C$1.37 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 10.78 and a beta of 1.70.

Pason Systems (TSE:PSIGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported C$0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.29 by C$0.58. Pason Systems had a return on equity of 30.12% and a net margin of 34.92%. The company had revenue of C$104.76 million for the quarter, compared to analyst estimates of C$107.00 million. As a group, equities research analysts expect that Pason Systems Inc. will post 1.2097147 EPS for the current fiscal year.

Pason Systems Dividend Announcement

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

Insiders Place Their Bets

In related news, Senior Officer Lars Olesen sold 22,500 shares of the business’s stock in a transaction dated 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 company’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 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 stock was sold at an average price of C$15.50, for a total transaction of C$201,500.00. Insiders sold a total of 63,600 shares of company stock valued at $1,017,855 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

Pason Systems Company Profile

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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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