Pason Systems (PSI) PT Raised to C$24.00

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Pason Systems (TSE:PSI) had its target price increased by National Bank Financial from C$23.00 to C$24.00 in a report published on Thursday. National Bank Financial currently has an outperform rating on the stock. National Bank Financial also issued estimates for Pason Systems’ Q4 2018 earnings at $0.21 EPS and FY2019 earnings at $0.70 EPS.

A number of other equities analysts have also recently weighed in on PSI. CIBC lifted their price target on Pason Systems from C$19.00 to C$20.00 in a research note on Friday, July 20th. Industrial Alliance Securities lifted their target price on Pason Systems from C$19.00 to C$20.50 in a research note on Thursday, August 9th. Finally, GMP Securities lifted their target price on Pason Systems from C$22.00 to C$24.50 in a research note on Friday, August 10th.

PSI traded down C$0.16 during trading on Thursday, reaching C$22.43. The company had a trading volume of 344,810 shares, compared to its average volume of 121,258. Pason Systems has a 12-month low of C$16.05 and a 12-month high of C$24.57.

Pason Systems (TSE:PSI) last issued its quarterly earnings results on Wednesday, August 8th. The company reported C$0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.10 by C($0.04). The company had revenue of C$68.27 million during the quarter, compared to analysts’ expectations of C$63.90 million. As a group, equities analysts forecast that Pason Systems will post 0.838879977629867 EPS for the current year.

About Pason Systems

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.

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