What is Raymond James’ Forecast for TSE:TCW FY2024 Earnings?

Trican Well Service Ltd. (TSE:TCW) – Equities research analysts at Raymond James cut their FY2024 earnings per share estimates for Trican Well Service in a research report issued to clients and investors on Tuesday, October 15th. Raymond James analyst M. Barth now expects that the company will post earnings of $0.49 per share for the year, down from their prior forecast of $0.56. Raymond James also issued estimates for Trican Well Service’s FY2025 earnings at $0.60 EPS and FY2026 earnings at $0.50 EPS.

TCW has been the subject of a number of other reports. BMO Capital Markets decreased their target price on Trican Well Service from C$6.00 to C$5.50 and set a “market perform” rating for the company in a research note on Friday, October 4th. Royal Bank of Canada raised 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 Thursday, August 1st. TD Securities reduced their price target on shares of Trican Well Service from C$5.00 to C$4.75 and set a “hold” rating for the company in a report on Tuesday, October 8th. Finally, Cormark raised their price objective on shares of Trican Well Service from C$6.00 to C$6.50 in a report on Monday, July 29th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$5.78.

Trican Well Service Trading Down 0.7 %

TSE:TCW opened at C$4.50 on Friday. The firm has a market capitalization of C$863.73 million, a price-to-earnings ratio of 7.89, a PEG ratio of 0.22 and a beta of 1.73. Trican Well Service has a 1-year low of C$3.79 and a 1-year high of C$5.24. The business’s 50-day moving average price is C$4.82 and its two-hundred day moving average price is C$4.62. The company has a current ratio of 2.60, a quick ratio of 1.75 and a debt-to-equity ratio of 3.90.

Trican Well Service (TSE:TCW) last issued its quarterly earnings results on Tuesday, July 30th. The company reported C$0.08 EPS for the quarter, topping the consensus estimate of C$0.06 by C$0.02. Trican Well Service had a net margin of 12.36% and a return on equity of 24.57%. The company had revenue of C$211.81 million during the quarter, compared to analysts’ expectations of C$191.10 million.

Trican Well Service Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 30th were given a dividend of $0.045 per share. The ex-dividend date was Friday, September 13th. This represents a $0.18 annualized dividend and a yield of 4.00%. Trican Well Service’s dividend payout ratio (DPR) is presently 31.58%.

Insider Activity

In other news, Senior Officer Scott Eric Matson bought 27,000 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of C$4.82 per share, with a total value of C$130,140.00. Over the last quarter, insiders have bought 35,977 shares of company stock valued at $173,559. 0.62% of the stock is owned by insiders.

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.