Pason Systems (TSE:PSI) Reaches New 12-Month Low at $14.80

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Pason Systems Inc. (TSE:PSI) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$14.80 and last traded at C$14.82, with a volume of 91437 shares traded. The stock had previously closed at C$15.03.

Several analysts have recently issued reports on the stock. BMO Capital Markets reduced their price target on shares of Pason Systems from C$24.00 to C$21.00 in a research report on Tuesday, September 10th. CIBC reduced their price target on shares of Pason Systems from C$24.00 to C$22.00 in a research report on Tuesday. Finally, National Bank Financial reduced their price target on shares of Pason Systems from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd.

The company has a market capitalization of $1.31 billion and a PE ratio of 17.59. The company has a debt-to-equity ratio of 4.05, a current ratio of 8.24 and a quick ratio of 7.71. The company’s 50 day simple moving average is C$16.06 and its 200 day simple moving average is C$18.08.

Pason Systems (TSE:PSI) last announced its quarterly earnings results on Thursday, August 8th. The company reported C$0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.12 by C($0.01). The business had revenue of C$72.89 million for the quarter, compared to the consensus estimate of C$67.55 million. On average, equities analysts forecast that Pason Systems Inc. will post 0.8923623 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, September 12th. This is a positive change from Pason Systems’s previous quarterly dividend of $0.18. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.09%. Pason Systems’s dividend payout ratio (DPR) is 84.81%.

In other Pason Systems news, Senior Officer Jonathan Faber bought 4,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were acquired at an average cost of C$16.50 per share, for a total transaction of C$66,000.00. Following the completion of the transaction, the insider now owns 21,500 shares in the company, valued at approximately C$354,750. Over the last 90 days, insiders have bought 5,000 shares of company stock worth $82,423.

About Pason Systems (TSE:PSI)

Pason Systems Inc provides instrumentation and data management systems for drilling rigs. 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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