Pason Systems (TSE:PSI) Trading Up 1.4% - Here's What Happened

Shares of Pason Systems Inc. (TSE:PSI - Get Free Report) were up 1.4% during trading on Monday . The stock traded as high as C$14.32 and last traded at C$14.23. Approximately 301,007 shares traded hands during mid-day trading, an increase of 110% from the average daily volume of 143,141 shares. The stock had previously closed at C$14.04.

Analyst Upgrades and Downgrades

Several analysts recently commented on PSI shares. Barclays reduced their price target on shares of Pason Systems from C$15.00 to C$13.00 in a research report on Thursday, August 15th. TD Securities reduced their price target on shares of Pason Systems from C$20.00 to C$18.00 and set a "buy" rating for the company in a research report on Tuesday, October 8th. Finally, BMO Capital Markets reduced their price target on shares of Pason Systems from C$21.00 to C$18.00 in a research report on Friday, October 4th.

Pason Systems Stock Performance

The company has a market cap of C$1.13 billion, a PE ratio of 9.77, a P/E/G ratio of 10.78 and a beta of 1.58. The company has a debt-to-equity ratio of 3.41, a quick ratio of 3.54 and a current ratio of 2.62. The stock's 50-day simple moving average is C$14.16 and its 200 day simple moving average is C$15.27.

Pason Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.13 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.52 dividend on an annualized basis and a yield of 3.67%. Pason Systems's payout ratio is currently 35.86%.

About Pason Systems

Pason Systems Inc, together with its subsidiaries, provides instrumentation and data management systems for drilling rigs in Canada, the United States, and internationally. The company provides Electronic Drilling Recorder, which provides real-time drilling data to rig site personnel; DataHub with Pason Live, which is used as the central repository for data and reports captured at the rigs for real-time; and DataLink that provides automated in-house databases, third-party analytics platforms, remote geosteering, and other remote services.