Barclays Boosts Pason Systems (TSE:PSI) Price Target to C$17.00

Pason Systems (TSE:PSIGet Rating) had its price objective raised by Barclays from C$16.00 to C$17.00 in a research report sent to investors on Wednesday, MarketBeat Ratings reports. They currently have an equal weight rating on the stock.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus lifted their target price on Pason Systems from C$20.00 to C$21.00 in a report on Tuesday, May 3rd. BMO Capital Markets reissued a buy rating and issued a C$23.00 price objective (up previously from C$22.00) on shares of Pason Systems in a report on Friday, April 29th. Royal Bank of Canada increased their target price on shares of Pason Systems from C$22.00 to C$23.00 and gave the stock an outperform rating in a research report on Monday, May 2nd. Finally, National Bankshares boosted their price target on Pason Systems from C$15.25 to C$19.00 and gave the company a sector perform rating in a research note on Tuesday, April 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of C$19.58.

Shares of PSI stock opened at C$15.60 on Wednesday. The firm has a 50 day moving average price of C$15.38 and a two-hundred day moving average price of C$12.93. The company has a quick ratio of 4.18, a current ratio of 4.26 and a debt-to-equity ratio of 2.16. The company has a market capitalization of C$1.28 billion and a PE ratio of 26.76. Pason Systems has a 12-month low of C$7.50 and a 12-month high of C$17.12.

Pason Systems (TSE:PSIGet Rating) last announced its earnings results on Tuesday, February 22nd. The company reported C$0.14 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.13 by C$0.01. The firm had revenue of C$62.83 million for the quarter, compared to the consensus estimate of C$60.95 million. As a group, research analysts expect that Pason Systems will post 0.99 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Monday, March 14th. This is an increase from Pason Systems’s previous quarterly dividend of $0.05. Pason Systems’s dividend payout ratio is 39.45%.

About Pason Systems (Get Rating)

Pason Systems Inc, an energy services and technology company, provides data management systems for drilling rigs in Canada, the United States, and internationally. The company offers Electronic Drilling Recorder, which monitors and records drilling operations around the rig; DataHub for storing data and information collected from the rig for on-demand retrieval; DataLink service provides direct connection interfaces for IT systems and analytics tools; Pason Live for monitoring rig operations in real-time using desktop computers or mobile devices; and daily and end-of-well KPI reports provide visual statistics on rig performance.

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