Precision Drilling Corp. (PDS) Trading 3.9% Higher
Shares of Precision Drilling Corp. (NYSE:PDS) traded up 3.9% during mid-day trading on Monday . The company traded as high as $4.87 and last traded at $4.83, with a volume of 2,147,904 shares traded. The stock had previously closed at $4.65.
A number of analysts have issued reports on the stock. TD Securities reiterated a “buy” rating and set a $8.50 price target (down from $9.50) on shares of Precision Drilling Corp. in a research note on Tuesday, July 26th. Jefferies Group restated a “sell” rating and set a $4.00 target price on shares of Precision Drilling Corp. in a research note on Tuesday, July 26th. Deutsche Bank AG set a $5.00 target price on shares of Precision Drilling Corp. and gave the stock a “hold” rating in a research note on Sunday, July 24th. Zacks Investment Research lowered shares of Precision Drilling Corp. from a “buy” rating to a “hold” rating in a research note on Saturday, July 23rd. Finally, Scotiabank restated an “underperform” rating and set a $6.00 target price (up from $3.50) on shares of Precision Drilling Corp. in a research note on Tuesday, July 19th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $5.43.
The stock’s market capitalization is $1.41 billion. The firm’s 50 day moving average is $4.85 and its 200-day moving average is $4.36.
Precision Drilling Corp. (NYSE:PDS) last announced its earnings results on Thursday, July 21st. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.04. The company had revenue of $164 million for the quarter, compared to analysts’ expectations of $172.98 million. The business’s quarterly revenue was down 51.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) earnings per share. On average, analysts predict that Precision Drilling Corp. will post ($0.48) EPS for the current fiscal year.
A hedge fund recently bought a new stake in Precision Drilling Corp. stock. I.G. Investment Management LTD. bought a new stake in shares of Precision Drilling Corp. (NYSE:PDS) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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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