Precision Drilling PT Raised to $13.00 at RBC Capital (PDS)
Analysts at RBC Capital increased their price target on shares of Precision Drilling (NYSE:PDS) from $12.00 to $13.00 in a research report issued to clients and investors on Friday, American Banking News reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price would indicate a potential upside of 25.97% from the company’s current price.
Shares of Precision Drilling (NYSE:PDS) traded up 1.47% during mid-day trading on Friday, hitting $10.32. The stock had a trading volume of 847,190 shares. Precision Drilling has a 52 week low of $6.64 and a 52 week high of $10.77. The stock’s 50-day moving average is $10.16 and its 200-day moving average is $9.17. The company has a market cap of $2.855 billion and a price-to-earnings ratio of 166.72.
Precision Drilling (NYSE:PDS) last announced its earnings results on Thursday, July 25th. The company reported $0.05 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.01) by $0.06. The company had revenue of $379.00 million for the quarter, compared to the consensus estimate of $361.67 million. During the same quarter last year, the company posted $0.06 earnings per share. Precision Drilling’s revenue was down .8% compared to the same quarter last year. Analysts expect that Precision Drilling will post $0.72 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Barclays Capital initiated coverage on shares of Precision Drilling (NYSE:PDS) in a research note to investors on Monday, September 9th. They set an “equal weight” rating and a $13.00 price target on the stock. Separately, analysts at Tudor Pickering downgraded shares of Precision Drilling (NYSE:PDS) from an “accumulate” rating to a “hold” rating in a research note to investors on Monday, August 12th. Finally, analysts at CIBC raised their price target on shares of Precision Drilling (NYSE:PDS) from C$12.00 to C$13.00 in a research note to investors on Monday, July 29th. They now have an “outperform” rating on the stock. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.62.
Precision Drilling Corporation (NYSE:PDS) is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada and the United States.
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