Trican Well Service (TCW) Price Target Cut to C$2.00

Trican Well Service (TSE:TCW) had its price target cut by research analysts at BMO Capital Markets from C$3.50 to C$2.00 in a report issued on Friday. The firm presently has a “hold” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 31.58% from the stock’s current price.

Several other equities research analysts have also issued reports on TCW. Canaccord Genuity lowered their price objective on Trican Well Service from C$4.50 to C$4.25 in a research note on Friday, August 17th. Royal Bank of Canada lowered Trican Well Service from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$5.00 to C$3.50 in a research note on Thursday, September 20th. Raymond James lowered Trican Well Service from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from C$6.25 to C$4.50 in a research note on Friday, September 21st. National Bank Financial lowered their price objective on Trican Well Service from C$5.00 to C$3.50 and set an “outperform” rating for the company in a research note on Wednesday, September 26th. Finally, CIBC lowered their price objective on Trican Well Service from C$5.50 to C$3.15 in a research note on Tuesday, October 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Trican Well Service presently has a consensus rating of “Hold” and an average target price of C$3.40.

Trican Well Service stock traded down C$0.07 during midday trading on Friday, reaching C$1.52. 5,487,057 shares of the stock traded hands, compared to its average volume of 2,865,502. Trican Well Service has a 12 month low of C$1.45 and a 12 month high of C$5.04. The company has a debt-to-equity ratio of 6.74, a current ratio of 2.64 and a quick ratio of 2.02.

Trican Well Service (TSE:TCW) last announced its quarterly earnings results on Thursday, November 8th. The company reported C($0.04) EPS for the quarter, missing analysts’ consensus estimates of C$0.02 by C($0.06). The company had revenue of C$253.74 million during the quarter, compared to the consensus estimate of C$257.97 million. As a group, analysts forecast that Trican Well Service will post 0.0599999954716985 earnings per share for the current fiscal year.

In other Trican Well Service news, insider Shaun Patrick Kelly purchased 20,000 shares of Trican Well Service stock in a transaction dated Wednesday, September 5th. The shares were purchased at an average cost of C$2.75 per share, for a total transaction of C$55,000.00.

Trican Well Service Company Profile

Trican Well Service Ltd., an oilfield services company, provides various specialized products, equipment, services, and technology for use in the drilling, completion, stimulation, and reworking of oil and gas wells primarily in Canada. It offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, gas migration prevention, cement design solutions, 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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Analyst Recommendations for Trican Well Service (TSE:TCW)

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