Pason Systems (TSE:PSI) Cut to Hold at TD

by · The Markets Daily

TD downgraded shares of Pason Systems (TSE:PSI – Free Report) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning,BayStreet reports. The firm currently has C$15.00 target price on the stock.

Separately, Royal Bank Of Canada raised their price objective on Pason Systems from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$15.83.

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Pason Systems Stock Down 2.0%

Shares of TSE:PSI opened at C$13.77 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 3.54 and a debt-to-equity ratio of 5.51. Pason Systems has a 12 month low of C$11.50 and a 12 month high of C$15.47. The company has a 50-day moving average price of C$14.28 and a 200 day moving average price of C$13.67. The company has a market cap of C$1.07 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 10.78 and a beta of 0.61.

Pason Systems (TSE:PSI – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported C$0.18 EPS for the quarter. Pason Systems had a return on equity of 9.71% and a net margin of 11.53%. The company had revenue of C$100.78 million during the quarter. As a group, equities research analysts predict that Pason Systems will post 1.23 earnings per share for the current year.

Pason Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.52 annualized dividend and a dividend yield of 3.8%. Pason Systems’s dividend payout ratio is currently 83.87%.

Insiders Place Their Bets

In other news, insider Bryce Mclean sold 2,777 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of C$14.48, for a total value of C$40,210.96. Following the completion of the sale, the insider owned 9,376 shares in the company, valued at approximately C$135,764.48. This trade represents a 22.85% decrease in their position. Also, Director Kenneth Brandon Mullen bought 3,000 shares of the stock in a transaction dated Wednesday, September 30th. The stock was purchased at an average price of C$13.96 per share, with a total value of C$41,880.00. Following the acquisition, the director directly owned 8,000 shares in the company, valued at approximately C$111,680. The trade was a 60.00% increase in their position. In the last quarter, insiders have sold 100,191 shares of company stock valued at $1,455,400. 0.13% of the stock is currently owned by company insiders.

Pason Systems Company Profile

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Pason Systems Inc is an oilfield specialist with fully integrated drilling data solutions. A host of products allow customers to collect, manage, report, and analyze drilling data for performance optimization and cost control. The electronic drilling recorder is the company’s primary product, and provides a complete system of drilling data acquisition, data networking, drilling management tools, and reports at both the wellsite and customer office. Other product offerings include wellbore detection solutions, wellsite communications and bandwidth, wellbore gas analyzers, and software for data management.

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