What is Cormark’s Forecast for TSE:TCW FY2024 Earnings?

Trican Well Service Ltd. (TSE:TCW) – Investment analysts at Cormark increased their FY2024 earnings per share estimates for Trican Well Service in a report issued on Thursday, October 31st. Cormark analyst B. Watson now forecasts that the company will earn $0.50 per share for the year, up from their previous estimate of $0.46.

Several other brokerages have also recently commented on TCW. TD Securities decreased their target price on Trican Well Service from C$5.00 to C$4.75 and set a “hold” rating on the stock in a report on Tuesday, October 8th. BMO Capital Markets cut their price target on Trican Well Service from C$5.50 to C$5.00 in a research note on Wednesday. Raymond James cut their price target on Trican Well Service from C$5.00 to C$4.75 in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada upped their price target on Trican Well Service from C$5.50 to C$6.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Trican Well Service presently has an average rating of “Moderate Buy” and an average price target of C$5.72.

Trican Well Service Price Performance

Shares of TCW stock opened at C$4.51 on Friday. The stock’s fifty day moving average is C$4.74 and its 200-day moving average is C$4.64. The company has a debt-to-equity ratio of 3.90, a quick ratio of 1.75 and a current ratio of 2.60. The stock has a market capitalization of C$865.65 million, a PE ratio of 7.91, a PEG ratio of 0.22 and a beta of 1.73. Trican Well Service has a 52 week low of C$3.79 and a 52 week high of C$5.24.

Trican Well Service (TSE:TCW) last announced its earnings results on Tuesday, July 30th. The company reported C$0.08 EPS for the quarter, topping the consensus estimate of C$0.06 by C$0.02. The company had revenue of C$211.81 million for the quarter, compared to analysts’ expectations of C$191.10 million. Trican Well Service had a return on equity of 24.57% and a net margin of 12.36%.

Trican Well Service Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 3.99%. The ex-dividend date is Friday, December 13th. Trican Well Service’s payout ratio is 31.58%.

Insider Buying and Selling at Trican Well Service

In related news, Senior Officer Scott Eric Matson bought 27,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were purchased at an average price of C$4.82 per share, with a total value of C$130,140.00. Over the last quarter, insiders have purchased 35,977 shares of company stock valued at $173,559. 0.62% of the stock is currently owned by company insiders.

About Trican Well Service

Trican Well Service Ltd., an equipment 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. The company offers cementing solutions, including pre-flushes and spacers, cement plugs, lost circulation, cement design, and laboratory solutions, as well as surface, intermediate, production, liner, horizontal, and remedial/squeeze cementing services.