Precision Drilling Corp. (PDS) Stock Price Down 4.5%
Precision Drilling Corp. (NYSE:PDS) shares traded down 4.5% on Monday . The stock traded as low as $4.85 and last traded at $4.86, with a volume of 1,203,158 shares. The stock had previously closed at $5.09.
Several research analysts have weighed in on the company. Raymond James Financial Inc. raised Precision Drilling Corp. from an “underperform” rating to a “market perform” rating in a research report on Tuesday, May 31st. Canaccord Genuity reaffirmed a “hold” rating and issued a $6.50 target price (up from $4.25) on shares of Precision Drilling Corp. in a research report on Wednesday, March 23rd. Zacks Investment Research lowered Precision Drilling Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, April 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $6.50 target price on shares of Precision Drilling Corp. in a research report on Tuesday, April 26th. Finally, Morgan Stanley upped their target price on Precision Drilling Corp. from $3.50 to $6.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 19th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Precision Drilling Corp. has an average rating of “Hold” and an average price target of $4.94.
The stock’s market capitalization is $1.42 billion. The company’s 50-day moving average is $5.02 and its 200-day moving average is $4.19.
Precision Drilling Corp. (NYSE:PDS) last released its quarterly earnings results on Monday, April 25th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.09. The firm earned $302 million during the quarter, compared to analyst estimates of $295.78 million. During the same period in the prior year, the business earned $0.08 EPS. The business’s revenue for the quarter was down 41.1% compared to the same quarter last year. Equities analysts expect that Precision Drilling Corp. will post ($0.67) earnings per share for the current year.
An institutional investor recently bought a new position in Precision Drilling Corp. stock. I.G. Investment Management LTD. purchased a new position in Precision Drilling Corp. (NYSE:PDS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 276,000 shares of the company’s stock, valued at approximately $1,092,000. I.G. Investment Management LTD. owned approximately 0.09% of Precision Drilling Corp. at the end of the most recent quarter.
Precision Drilling Corporation (Precision) provides contract drilling, and completion and production services primarily to oil and natural gas exploration and production companies in Canada, the United States and certain international locations. It operates through two segments: Contract Drilling Services, and Completion and Production Services.
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