Precision Drilling Corp. (PDS) Trading 1.7% Higher
Precision Drilling Corp. (NYSE:PDS) shares traded up 1.7% during trading on Tuesday . The stock traded as high as $4.31 and last traded at $4.19, with a volume of 813,244 shares. The stock had previously closed at $4.12.
Several research analysts have recently commented on the company. TD Securities reiterated a “buy” rating and set a $8.50 target price (down from $9.50) on shares of Precision Drilling Corp. in a research note on Tuesday, July 26th. Jefferies Group reiterated 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 Precision Drilling Corp. and gave the stock a “hold” rating in a research note on Sunday, July 24th. Zacks Investment Research downgraded Precision Drilling Corp. from a “buy” rating to a “hold” rating in a research note on Saturday, July 23rd. Finally, Scotiabank reiterated 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 investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.43.
The company’s market cap is $1.24 billion. The company has a 50-day moving average price of $4.91 and a 200 day moving average price of $4.31.
Precision Drilling Corp. (NYSE:PDS) last posted its quarterly earnings results on Thursday, July 21st. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.04. The business had revenue of $164 million for the quarter, compared to analyst estimates of $172.98 million. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. The business’s revenue was down 51.0% compared to the same quarter last year. On average, equities research analysts anticipate that Precision Drilling Corp. will post ($0.50) EPS for the current year.
An institutional investor recently bought a new position 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 filing with the Securities and Exchange Commission. The firm bought 276,000 shares of the company’s stock, valued at approximately $1,092,000. I.G. Investment Management LTD. owned 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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