What is Cormark’s Estimate for TSE:TCW FY2024 Earnings?

Trican Well Service Ltd. (TSE:TCW) – Equities research analysts at Cormark lifted their FY2024 earnings per share (EPS) estimates for shares of Trican Well Service in a report issued on Thursday, October 31st. Cormark analyst B. Watson now anticipates that the company will post earnings of $0.50 per share for the year, up from their previous estimate of $0.46.

A number of other research analysts have also commented on TCW. Royal Bank of Canada upped their price target on 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. BMO Capital Markets cut their price target on Trican Well Service from C$5.50 to C$5.00 in a report on Wednesday. TD Securities cut their price target on 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, Raymond James cut their price target on Trican Well Service from C$5.00 to C$4.75 in a report on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.72.

Trican Well Service Stock Down 2.4 %

TCW opened at C$4.51 on Friday. The business has a 50 day moving average price of C$4.74 and a 200 day moving average price of C$4.64. Trican Well Service has a twelve month low of C$3.79 and a twelve month high of C$5.24. The company has a debt-to-equity ratio of 3.90, a quick ratio of 1.75 and a current ratio of 2.60. The firm has a market cap of C$865.65 million, a P/E ratio of 7.91, a price-to-earnings-growth ratio of 0.22 and a beta of 1.73.

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

Insider Activity at Trican Well Service

In other news, Senior Officer Scott Eric Matson bought 27,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of C$4.82 per share, for a total transaction of C$130,140.00. Over the last ninety days, insiders bought 35,977 shares of company stock worth $173,559. 0.62% of the stock is owned by corporate insiders.

Trican Well Service Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.045 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 3.99%. Trican Well Service’s payout ratio is 31.58%.

About Trican Well Service

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.