Precision Drilling Corp. (PDS) Sees Unusually-High Trading Volume
Precision Drilling Corp. (NYSE:PDS) saw unusually-strong trading volume on Thursday . Approximately 1,346,833 shares changed hands during trading, a decline of 23% from the previous session’s volume of 1,758,726 shares.The stock last traded at $5.11 and had previously closed at $5.18.
Several analysts have commented on PDS shares. Zacks Investment Research raised shares of Precision Drilling Corp. from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Tuesday, April 12th. Cowen and Company increased their price target on shares of Precision Drilling Corp. from $4.40 to $5.00 and gave the company an “outperform” rating in a research report on Wednesday, April 27th. Morgan Stanley increased their price target on shares of Precision Drilling Corp. from $6.00 to $6.50 and gave the company an “overweight” rating in a research report on Monday, April 25th. Credit Suisse Group AG lowered shares of Precision Drilling Corp. from a “neutral” rating to an “underperform” rating and set a $3.00 price target for the company. in a research report on Wednesday, June 1st. Finally, TD Securities lowered shares of Precision Drilling Corp. from an “action list buy” rating to a “buy” rating in a research report on Monday, March 21st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $5.03.
The stock’s market cap is $1.46 billion. The company has a 50 day moving average price of $5.01 and a 200 day moving average price of $4.18.
Precision Drilling Corp. (NYSE:PDS) last announced its quarterly earnings data on Monday, April 25th. The company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.09. The company had revenue of $302 million for the quarter, compared to analyst estimates of $295.78 million. During the same period in the prior year, the firm posted $0.08 earnings per share. The business’s quarterly revenue was down 41.1% compared to the same quarter last year. Equities analysts forecast that Precision Drilling Corp. will post ($0.67) earnings per share for the current fiscal year.
An institutional investor recently bought a new position in Precision Drilling Corp. stock. I.G. Investment Management LTD. acquired 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 fund acquired 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.