CIBC Lowers Trican Well Service (TCW) Price Target to C$2.50

Trican Well Service (TSE:TCW) had its price objective reduced by equities research analysts at CIBC from C$3.15 to C$2.50 in a research note issued to investors on Friday. CIBC’s price target would suggest a potential upside of 64.47% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Raymond James lowered shares of Trican Well Service from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from C$6.25 to C$4.50 in a research report on Friday, September 21st. Royal Bank of Canada lowered shares of Trican Well Service from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from C$5.00 to C$3.50 in a research report on Thursday, September 20th. BMO Capital Markets reduced their price target on shares of Trican Well Service from C$4.00 to C$3.50 in a research report on Thursday, August 2nd. Canaccord Genuity reduced their price target on shares of Trican Well Service from C$4.50 to C$4.25 in a research report on Friday, August 17th. Finally, JPMorgan Chase & Co. lowered shares of Trican Well Service from a “neutral” rating to an “underweight” rating in a research report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Trican Well Service has an average rating of “Hold” and an average price target of C$3.40.

TSE:TCW opened at C$1.52 on Friday. 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 quick ratio of 2.02, a current ratio of 2.64 and a debt-to-equity ratio of 6.74.

Trican Well Service (TSE:TCW) last released its quarterly earnings results on Thursday, November 8th. The company reported C($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of C$0.02 by C($0.06). The business had revenue of C$253.74 million for the quarter, compared to analysts’ expectations of C$257.97 million. Equities analysts anticipate that Trican Well Service will post 0.0599999954716985 earnings per share for the current year.

In other news, insider Shaun Patrick Kelly purchased 20,000 shares of Trican Well Service stock in a transaction on 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.

About Trican Well Service

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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