Trican Well Service (TCW) Stock Rating Lowered by Canaccord Genuity

Canaccord Genuity downgraded shares of Trican Well Service (TSE:TCW) from a buy rating to a hold rating in a report issued on Tuesday. Canaccord Genuity currently has C$2.50 price objective on the stock, down from their prior price objective of C$3.25.

Several other analysts also recently commented on TCW. BMO Capital Markets dropped their price objective on Trican Well Service from C$4.00 to C$3.50 in a research note on Thursday, August 2nd. Royal Bank of Canada downgraded Trican Well Service from an outperform rating to a sector perform rating and dropped their price objective for the stock from C$5.00 to C$3.50 in a research note on Thursday, September 20th. Raymond James downgraded Trican Well Service from a strong-buy rating to an outperform rating and dropped their price objective for the stock from C$6.25 to C$4.50 in a research note on Friday, September 21st. National Bank Financial dropped their price objective on Trican Well Service from C$5.00 to C$3.50 and set an outperform rating on the stock in a research note on Wednesday, September 26th. Finally, CIBC dropped their price objective on Trican Well Service from C$5.50 to C$3.15 in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of C$4.17.

TSE:TCW opened at C$2.12 on Tuesday. Trican Well Service has a 12-month low of C$2.00 and a 12-month high of C$5.34.

Trican Well Service (TSE:TCW) last posted its quarterly earnings results on Wednesday, August 1st. The company reported C($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C($0.08) by C($0.02). The company had revenue of C$171.99 million during the quarter, compared to the consensus estimate of C$172.68 million. Trican Well Service had a return on equity of 4.77% and a net margin of 4.99%.

In other Trican Well Service news, insider Shaun Patrick Kelly acquired 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were acquired at an average price of C$2.75 per share, with a total value 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.

See Also: Momentum Indicator: Relative Strength Index

Analyst Recommendations for Trican Well Service (TSE:TCW)

Receive News & Ratings for Trican Well Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Trican Well Service and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply