Precision Drilling Corp. (PDS) Stock Price Down 4.7%
Precision Drilling Corp. (NYSE:PDS)’s share price was down 4.7% on Friday . The company 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.
A number of equities analysts have weighed in on PDS shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $6.50 price target on shares of Precision Drilling Corp. in a research note on Tuesday, April 26th. Morgan Stanley raised their target price on shares of Precision Drilling Corp. from $3.50 to $6.00 and gave the company an “overweight” rating in a research note on Tuesday, April 19th. Credit Suisse Group AG downgraded shares of Precision Drilling Corp. from a “neutral” rating to an “underperform” rating and set a $3.00 target price on the stock. in a research note on Wednesday, June 1st. Raymond James Financial Inc. raised shares of Precision Drilling Corp. from an “underperform” rating to a “market perform” rating in a research note on Tuesday, May 31st. Finally, Zacks Investment Research downgraded shares of Precision Drilling Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $5.43.
The firm has a 50-day moving average of $4.78 and a 200 day moving average of $4.39. The company’s market capitalization is $1.31 billion.
Precision Drilling Corp. (NYSE:PDS) last announced its quarterly earnings data on Thursday, July 21st. The company reported ($0.20) EPS for the quarter, beating the Zacks’ 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. During the same period in the previous year, the firm posted ($0.10) earnings per share. The business’s revenue for the quarter was down 51.0% on a year-over-year basis. On average, equities research analysts predict that Precision Drilling Corp. will post ($0.48) earnings per share for the current year.
An institutional investor recently raised its position in Precision Drilling Corp. stock. Employees Retirement System of Texas raised its position in shares of Precision Drilling Corp. (NYSE:PDS) by 392.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,064,000 shares of the company’s stock after buying an additional 848,000 shares during the period. Employees Retirement System of Texas owned about 0.36% of Precision Drilling Corp. worth $4,192,000 at the end of the most recent reporting period.
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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