High Arctic Energy Services (TSE:HWO) Price Target Cut to C$3.75 by Analysts at National Bank Financial

High Arctic Energy Services (TSE:HWO) had its price objective reduced by National Bank Financial from C$4.50 to C$3.75 in a research note issued to investors on Friday, BayStreet.CA reports. They currently have a sector perform rating on the stock.

High Arctic Energy Services stock traded down C$0.17 during mid-day trading on Friday, hitting C$2.96. 46,500 shares of the company traded hands, compared to its average volume of 29,231. High Arctic Energy Services has a one year low of C$2.89 and a one year high of C$4.34. The firm has a market capitalization of $148.73 million and a PE ratio of 25.08. The company has a current ratio of 3.03, a quick ratio of 2.62 and a debt-to-equity ratio of 4.89. The business’s fifty day moving average price is C$3.28.

High Arctic Energy Services (TSE:HWO) last announced its earnings results on Thursday, May 9th. The company reported C($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of C($0.03) by C$0.01. The company had revenue of C$46.50 million for the quarter, compared to the consensus estimate of C$48.70 million. As a group, sell-side analysts forecast that High Arctic Energy Services will post 0.37 EPS for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 14th will be issued a $0.0165 dividend. The ex-dividend date is Tuesday, July 30th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.69%. High Arctic Energy Services’s payout ratio is 167.80%.

About High Arctic Energy Services

High Arctic Energy Services Inc provides oilfield services in Canada, Papua New Guinea, and the United States. The company operates through Drilling Services, Production Services, and Ancillary Services segments. It offers snubbing services, including foothills stand alone, stand alone, power tower, and rig assist units; nitrogen transport and pumping services; and service rigs.

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