Strad Energy Services (TSE:SDY) Upgraded by Raymond James to Strong-Buy

Raymond James upgraded shares of Strad Energy Services (TSE:SDY) from an outperform rating to a strong-buy rating in a report released on Friday morning, BayStreet.CA reports. They currently have C$3.00 price objective on the stock, up from their previous price objective of C$2.75.

Shares of SDY stock traded down C$0.11 on Friday, hitting C$1.69. The company had a trading volume of 21,400 shares, compared to its average volume of 64,139. The stock has a market capitalization of $99.33 million and a price-to-earnings ratio of -20.36. The company’s 50-day simple moving average is C$1.66. The company has a current ratio of 1.86, a quick ratio of 1.82 and a debt-to-equity ratio of 17.25. Strad Energy Services has a twelve month low of C$1.13 and a twelve month high of C$1.80.

Strad Energy Services (TSE:SDY) last released its quarterly earnings results on Thursday, May 9th. The company reported C$0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of C$0.03. The business had revenue of C$30.88 million during the quarter, compared to analyst estimates of C$32.70 million. As a group, sell-side analysts predict that Strad Energy Services will post 0.33 earnings per share for the current fiscal year.

About Strad Energy Services

Strad Energy Services Ltd. provides rental equipment and matting solutions to the oil and gas, pipeline, power transmission, and mining sectors in Canada and the United States. The company operates in two segments, Industrial Matting and Equipment Rentals. It offers tank farms, BBL tanks, BBL single wall horizontal tanks, agitator and flare tanks, floc and premix tanks, potable water storage sheds, EcoPond composites, shale bins, pipe racks and tubs, and containment systems; generators and heaters; and centrifuges, mobile centrifuge dewatering units, and linear motion drying shakers.

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