Pacific Drilling Downgraded to Buy at ISI Group (PACD)
Pacific Drilling (NASDAQ:PACD) was downgraded by equities research analysts at ISI Group from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports.
Shares of Pacific Drilling (NASDAQ:PACD) opened at 10.92 on Monday. Pacific Drilling has a one year low of $8.89 and a one year high of $12.25. The stock has a 50-day moving average of $11.04 and a 200-day moving average of $10.7. The company has a market cap of $2.370 billion and a P/E ratio of 144.27.
Pacific Drilling (NASDAQ:PACD) last released its earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the analysts’ 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. Analysts expect that Pacific Drilling will post $0.39 EPS for the current fiscal year.
A number of other firms have also recently commented on PACD. Analysts at Zacks upgraded shares of Pacific Drilling from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, December 12th. They now have a $12.50 price target on the stock. Separately, 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. Finally, analysts at Barclays cut their price target on shares of Pacific Drilling from $14.00 to $13.00 in a research note to investors on Friday, November 8th. They now have an “overweight” rating on the stock. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price 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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