Pason Systems Inc. (TSE:PSI) Receives C$18.60 Average PT from Brokerages

Pason Systems Inc. (TSE:PSI – Get Rating) has been assigned a consensus rating of “Hold” from the seven brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$18.60.

A number of analysts recently weighed in on PSI shares. BMO Capital Markets lowered their target price on shares of Pason Systems from C$24.00 to C$21.00 in a research note on Friday, March 3rd. Stifel Firstegy lowered shares of Pason Systems from a “buy” rating to a “hold” rating in a report on Tuesday, January 17th. Royal Bank of Canada dropped their price objective on shares of Pason Systems from C$25.00 to C$21.00 and set an “outperform” rating for the company in a report on Monday, March 6th. Stifel Nicolaus cut their price objective on Pason Systems from C$19.50 to C$17.00 in a research report on Monday, March 6th. Finally, National Bank Financial reiterated a “sector perform overweight” rating on shares of Pason Systems in a research report on Monday, January 30th.

Pason Systems Stock Performance

TSE PSI opened at C$12.30 on Friday. The stock has a market cap of C$1.00 billion, a P/E ratio of 9.46, a PEG ratio of 10.78 and a beta of 1.66. The company’s 50-day simple moving average is C$15.04 and its 200 day simple moving average is C$14.84. Pason Systems has a twelve month low of C$12.05 and a twelve month high of C$17.12. The company has a quick ratio of 3.54, a current ratio of 4.02 and a debt-to-equity ratio of 1.45.

Pason Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $0.48 annualized dividend and a yield of 3.90%. Pason Systems’s dividend payout ratio is presently 36.92%.

Insiders Place Their Bets

In other Pason Systems news, Senior Officer Jonathan Faber sold 4,600 shares of Pason Systems stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of C$16.10, for a total transaction of C$74,060.00. Following the transaction, the insider now directly owns 42,000 shares in the company, valued at C$676,200. Corporate insiders own 0.22% of the company’s stock.

About Pason Systems

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Pason Systems Inc, an energy services and technology company, provides data management systems for drilling rigs in Canada, the United States, and internationally. The company offers Electronic Drilling Recorder, which monitors and records drilling operations around the rig; DataHub for storing data and information collected from the rig for on-demand retrieval; DataLink service provides direct connection interfaces for IT systems and analytics tools; Pason Live for monitoring rig operations in real-time using desktop computers or mobile devices; and daily and end-of-well KPI reports provide visual statistics on rig performance.