Pason Systems (PSI) Upgraded to “Outperform Overweight” by National Bank Financial

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Pason Systems (TSE:PSI) was upgraded by analysts at National Bank Financial from a “sector perform overweight” rating to an “outperform overweight” rating in a research report issued on Thursday, BayStreet.CA reports. The brokerage currently has a C$23.50 price target on the stock. National Bank Financial’s target price indicates a potential upside of 13.14% from the company’s previous close. National Bank Financial also issued estimates for Pason Systems’ Q2 2019 earnings at $0.12 EPS, Q4 2019 earnings at $0.18 EPS, FY2019 earnings at $0.68 EPS and FY2020 earnings at $0.75 EPS.

TSE:PSI opened at C$20.77 on Thursday. Pason Systems has a 52 week low of C$17.18 and a 52 week high of C$24.57. The firm has a market cap of $1.67 billion and a P/E ratio of 28.45.

Pason Systems (TSE:PSI) last issued its quarterly earnings data on Tuesday, February 26th. The company reported C$0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.23 by C$0.01. The company had revenue of C$81.97 million during the quarter, compared to the consensus estimate of C$76.75 million. On average, equities analysts anticipate that Pason Systems will post 0.959999968906884 earnings per share for the current fiscal year.

About Pason Systems

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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