Trican Well Service Ltd. (TSE:TCW – Get Rating)’s share price shot up 7.1% during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as C$3.17 and last traded at C$3.15. 310,011 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 1,054,227 shares. The stock had previously closed at C$2.94.
The newly announced dividend which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be paid a $0.04 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $0.16 annualized dividend and a yield of 5.03%. Trican Well Service’s payout ratio is 50.00%.
Analyst Ratings Changes
TCW has been the topic of several research analyst reports. Canaccord Genuity Group decreased their price target on shares of Trican Well Service from C$5.50 to C$4.00 in a research note on Wednesday, March 29th. BMO Capital Markets reduced their target price on shares of Trican Well Service from C$5.50 to C$4.50 in a report on Monday, March 27th.
Trican Well Service Stock Performance
Trican Well Service (TSE:TCW – Get Rating) last issued its earnings results on Wednesday, February 22nd. The company reported C$0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$0.11. The company had revenue of C$236.50 million during the quarter, compared to analyst estimates of C$241.63 million. Trican Well Service had a return on equity of 15.94% and a net margin of 9.14%. As a group, equities research analysts expect that Trican Well Service Ltd. will post 0.5049669 earnings per share 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 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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