Trican Well Service Ltd. to Post FY2022 Earnings of $0.28 Per Share, Cormark Forecasts (TSE:TCW)

Trican Well Service Ltd. (TSE:TCWGet Rating) – Equities research analysts at Cormark raised their FY2022 earnings estimates for shares of Trican Well Service in a research report issued on Thursday, July 28th. Cormark analyst B. Watson now forecasts that the company will earn $0.28 per share for the year, up from their prior forecast of $0.21. The consensus estimate for Trican Well Service’s current full-year earnings is $0.27 per share. Cormark also issued estimates for Trican Well Service’s Q2 2023 earnings at $0.02 EPS.

Trican Well Service (TSE:TCWGet Rating) last issued its quarterly earnings results on Wednesday, May 11th. The company reported C$0.05 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.07 by C($0.02). The firm had revenue of C$218.91 million for the quarter, compared to the consensus estimate of C$214.98 million.

Other analysts also recently issued research reports about the stock. BMO Capital Markets upped their price target on shares of Trican Well Service from C$5.25 to C$5.50 in a report on Wednesday, July 27th. ATB Capital upped their price target on shares of Trican Well Service from C$5.00 to C$5.50 in a report on Thursday. TD Securities upped their price target on shares of Trican Well Service from C$3.75 to C$4.25 and gave the stock a “hold” rating in a report on Thursday, May 12th. Royal Bank of Canada upped their price target 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 Monday, May 16th. Finally, Raymond James increased their price objective on shares of Trican Well Service from C$4.00 to C$5.00 and gave the company an “outperform” rating in a research note on Tuesday, May 17th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$5.00.

Trican Well Service Stock Performance

Shares of Trican Well Service stock opened at C$3.79 on Monday. The company has a 50 day moving average of C$3.89 and a 200-day moving average of C$3.79. Trican Well Service has a 1-year low of C$2.28 and a 1-year high of C$4.90. The company has a current ratio of 1.92, a quick ratio of 1.71 and a debt-to-equity ratio of 8.52. The company has a market cap of C$931.65 million and a PE ratio of 27.07.

Trican Well Service Company Profile

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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 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; and cement pumpers, bulk equipment, and cement auxiliary equipment.

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Earnings History and Estimates for Trican Well Service (TSE:TCW)

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