Precision Drilling’s Sector Outperform Rating Reaffirmed at CIBC (PDS)
Precision Drilling (NYSE:PDS)‘s stock had its “sector outperform” rating restated by analysts at CIBC in a research report issued to clients and investors on Wednesday, American Banking News.com reports. They currently have a $13.00 price target on the stock. CIBC’s price objective suggests a potential upside of 30.78% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of Precision Drilling from $12.00 to $13.00 in a research note to investors on Friday, October 4th. They now have an “outperform” rating on the stock. Separately, analysts at Barclays Capital initiated coverage on shares of Precision Drilling 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. Finally, analysts at Tudor Pickering downgraded shares of Precision Drilling from an “accumulate” rating to a “hold” rating in a research note to investors on Monday, August 12th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Precision Drilling currently has an average rating of “Hold” and a consensus price target of $11.62.
Precision Drilling (NYSE:PDS) traded down 1.49% during mid-day trading on Wednesday, hitting $9.94. The stock had a trading volume of 555,214 shares. Precision Drilling has a 52 week low of $6.64 and a 52 week high of $10.77. The stock has a 50-day moving average of $10.16 and a 200-day moving average of $9.21. The company has a market cap of $2.750 billion and a price-to-earnings ratio of 165.41.
Precision Drilling (NYSE:PDS) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts predict that Precision Drilling will post $0.71 earnings per share for the current fiscal year.
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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