Pason Systems (TSE:PSI) Given New C$16.00 Price Target at Royal Bank of Canada

Pason Systems (TSE:PSI) had its target price cut by Royal Bank of Canada from C$18.00 to C$16.00 in a research note issued to investors on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other brokerages have also weighed in on PSI. National Bankshares cut their target price on shares of Pason Systems from C$20.00 to C$19.50 and set a “sector perform” rating on the stock in a research report on Thursday, December 19th. TD Securities dropped their price target on Pason Systems from C$16.00 to C$13.00 and set a “buy” rating for the company in a research note on Wednesday.

Pason Systems Trading Up 2.0 %

PSI opened at C$11.21 on Thursday. The company has a market cap of C$892.35 million, a P/E ratio of 7.91, a PEG ratio of 10.78 and a beta of 1.58. The company has a current ratio of 2.59, a quick ratio of 3.54 and a debt-to-equity ratio of 3.19. The company’s 50 day moving average is C$12.51 and its 200-day moving average is C$13.49. Pason Systems has a 1-year low of C$10.43 and a 1-year high of C$18.59.

Pason Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were paid a $0.13 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.52 annualized dividend and a dividend yield of 4.64%. Pason Systems’s dividend payout ratio is 36.70%.

Pason Systems Company Profile

Pason Systems Inc, together with its subsidiaries, provides instrumentation and data management systems for drilling rigs in Canada, the United States, and internationally. The company provides Electronic Drilling Recorder, which provides real-time drilling data to rig site personnel; DataHub with Pason Live, which is used as the central repository for data and reports captured at the rigs for real-time; and DataLink that provides automated in-house databases, third-party analytics platforms, remote geosteering, and other remote services.