Pacific Drilling Stock Rating Lowered by Zacks (PACD)
Pacific Drilling (NASDAQ:PACD) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday, Analyst Ratings Network.com reports. They currently have a $12.50 price objective on the stock. Zacks‘ target price indicates a potential upside of 14.16% from the stock’s previous close.
Shares of Pacific Drilling (NASDAQ:PACD) remained flat at $10.95 during during mid-day trading trading on Tuesday. The stock had a trading volume of 192,306 shares. Pacific Drilling has a 52-week low of $8.89 and a 52-week high of $12.25. The stock has a 50-day moving average of $11.08 and a 200-day moving average of $10.69. The company has a market cap of $2.376 billion and a P/E ratio of 146.00.
Pacific Drilling (NASDAQ:PACD) last released its earnings data on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.08 by $0.06. The company had revenue of $193.20 million for the quarter, compared to the consensus estimate of $182.58 million. On average, analysts predict that Pacific Drilling will post $0.39 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at ISI Group downgraded shares of Pacific Drilling from a “strong-buy” rating to a “buy” rating in a research note to investors on Monday. Finally, analysts at Cowen and Company raised their price target on shares of Pacific Drilling from $13.00 to $14.00 in a research note to investors on Monday, November 11th. They now have an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Pacific Drilling presently has an average rating of “Buy” and a consensus price target of $13.53.
Pacific Drilling SA is a Luxembourg-based ultra-deepwater oil drilling company. The Company’s fleet consists of seven ultra-deepwater drill ships, such as Pacific Bora, Pacific Mistral, Pacific Scirocco, Pacific Santa Ana, Pacific Khamsin and Pacific Sharav.
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