Precision Drilling Corp. (PDS) Stock Price Down 4.7%
Precision Drilling Corp. (NYSE:PDS)’s share price was down 4.7% during mid-day trading on Friday . The stock traded as low as $4.43 and last traded at $4.44, with a volume of 1,045,502 shares traded. The stock had previously closed at $4.66.
Several equities analysts have recently issued reports on PDS shares. Zacks Investment Research cut shares of Precision Drilling Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, April 14th. Morgan Stanley lifted their price objective on shares of Precision Drilling Corp. from $3.50 to $6.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 19th. Raymond James Financial Inc. cut shares of Precision Drilling Corp. from a “market perform” rating to an “underperform” rating in a research note on Wednesday, April 20th. Clarkson Capital reaffirmed a “buy” rating on shares of Precision Drilling Corp. in a research note on Friday, April 15th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $6.50 price objective on shares of Precision Drilling Corp. in a research note on Tuesday, April 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $5.43.
The stock’s 50 day moving average price is $4.80 and its 200-day moving average price is $4.38. The firm’s market capitalization is $1.31 billion.
Precision Drilling Corp. (NYSE:PDS) last announced its quarterly earnings results on Thursday, July 21st. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. During the same period last year, the company earned ($0.10) earnings per share. The company earned $164 million during the quarter, compared to the consensus estimate of $172.98 million. The business’s revenue was down 51.0% compared to the same quarter last year. On average, equities analysts predict that Precision Drilling Corp. will post ($0.47) EPS for the current fiscal year.
An institutional investor recently bought a new position in Precision Drilling Corp. stock. I.G. Investment Management LTD. purchased a new position in shares of Precision Drilling Corp. (NYSE:PDS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 276,000 shares of the company’s stock, valued at approximately $1,092,000. I.G. Investment Management LTD. owned about 0.09% of Precision Drilling Corp. as of its most recent SEC filing.
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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