Trican Well Service (TSE:TCW) Price Target Cut to C$1.20

Trican Well Service (TSE:TCW) had its price target cut by Canaccord Genuity from C$1.55 to C$1.20 in a research report issued on Tuesday, BayStreet.CA reports. Canaccord Genuity’s target price would indicate a potential upside of 13.21% from the company’s previous close.

A number of other brokerages have also commented on TCW. CIBC decreased their price objective on WestJet Airlines from C$22.00 to C$21.00 in a research report on Tuesday, April 23rd. AltaCorp Capital restated a “sector perform” rating on shares of STEP Energy Services in a research report on Thursday, June 20th. Finally, Cormark decreased their price objective on Trican Well Service from C$3.50 to C$1.75 in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Trican Well Service presently has a consensus rating of “Hold” and an average price target of C$1.81.

TCW traded up C$0.01 during trading on Tuesday, reaching C$1.06. The company had a trading volume of 296,617 shares, compared to its average volume of 1,157,017. The company has a 50-day moving average of C$1.21. The firm has a market capitalization of $312.18 million and a P/E ratio of -1.55. Trican Well Service has a 12-month low of C$0.96 and a 12-month high of C$3.23. The company has a current ratio of 2.08, a quick ratio of 1.75 and a debt-to-equity ratio of 9.84.

Trican Well Service (TSE:TCW) last announced its quarterly earnings data on Thursday, May 9th. The company reported C($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of C($0.03) by C$0.01. The business had revenue of C$245.68 million for the quarter, compared to analyst estimates of C$230.47 million. Analysts anticipate that Trican Well Service will post -0.07 earnings per share for the current fiscal year.

Trican Well Service Company Profile

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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