Pason Systems (PSI) Sets New 1-Year Low at $18.53

Shares of Pason Systems Inc. (TSE:PSI) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as C$18.53 and last traded at C$18.79, with a volume of 66789 shares traded. The stock had previously closed at C$19.20.

PSI has been the subject of several recent research reports. CIBC cut their price objective on Pason Systems from C$23.00 to C$22.00 in a report on Tuesday, October 16th. National Bank Financial increased their target price on shares of Pason Systems from C$23.00 to C$24.00 and gave the stock an “outperform” rating in a research report on Thursday, November 8th.

Pason Systems (TSE:PSI) last posted its earnings results on Wednesday, November 7th. The company reported C$0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.20 by C$0.08. The business had revenue of C$82.34 million for the quarter, compared to analyst estimates of C$77.30 million. As a group, analysts expect that Pason Systems Inc. will post 0.880000036935993 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 31st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Thursday, December 13th. Pason Systems’s payout ratio is 125.45%.

In other Pason Systems news, insider Marcel Kessler purchased 3,000 shares of the stock in a transaction dated Monday, December 10th. The shares were bought at an average cost of C$18.85 per share, with a total value of C$56,550.00. Also, insider Kevin Chi Hin Lo sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The shares were sold at an average price of C$22.16, for a total value of C$886,400.00. Over the last three months, insiders have acquired 17,000 shares of company stock worth $324,510 and have sold 471,333 shares worth $10,213,673.

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Pason Systems Company Profile (TSE:PSI)

Pason Systems Inc provides instrumentation data management systems for drilling rigs worldwide. The company offers Electronic AutoDriller, which maximizes the rate of penetration by monitoring multiple drilling parameters; Electronic Choke Actuator that provides a means of remotely controlling the choke valve; and Electronic Drilling Recorder.

Further Reading: Preferred Stock

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