Trican Well Service (TSE:TCW) Price Target Raised to C$6.00 at Royal Bank of Canada

Trican Well Service (TSE:TCW) had its target price increased by analysts at Royal Bank of Canada from C$5.50 to C$6.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 17.65% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Raymond James lifted their price target on shares of Trican Well Service from C$4.50 to C$5.00 and gave the stock a “market perform” rating in a research note on Thursday. Cormark upped their target price on shares of Trican Well Service from C$6.00 to C$6.50 in a report on Monday. BMO Capital Markets upped their target price on shares of Trican Well Service from C$5.50 to C$6.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, TD Securities increased their price objective on shares of Trican Well Service from C$4.50 to C$5.00 and gave the company a “hold” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Trican Well Service presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.91.

Trican Well Service Stock Up 1.2 %

Shares of TSE TCW traded up C$0.06 on Thursday, reaching C$5.10. 1,176,702 shares of the company’s stock traded hands, compared to its average volume of 726,309. Trican Well Service has a 12 month low of C$3.79 and a 12 month high of C$5.33. The business’s 50 day simple moving average is C$4.66 and its two-hundred day simple moving average is C$4.37. The company has a market cap of C$1.04 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 0.22 and a beta of 1.82. The company has a quick ratio of 1.75, a current ratio of 2.74 and a debt-to-equity ratio of 3.40.

Trican Well Service (TSE:TCW) last announced its earnings results on Monday, May 13th. The company reported C$0.19 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.01. Trican Well Service had a net margin of 12.26% and a return on equity of 22.33%. The business had revenue of C$271.93 million during the quarter, compared to the consensus estimate of C$282.63 million. As a group, equities research analysts forecast that Trican Well Service will post 0.5199063 EPS for the current fiscal year.

Trican Well Service Company Profile

Trican Well Service Ltd., an equipment 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. The company offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, cement design, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services.