Precision Drilling Corp Reaches New 12-Month High Following Analyst Upgrade (PDS)
Precision Drilling Corp (NYSE:PDS)’s share price reached a new 52-week high during trading on Tuesday after Scotiabank raised their price target on the stock from C$17.50 to C$18.00, Analyst Ratings.Net reports. Scotiabank currently has an outperform rating on the stock. Precision Drilling Corp traded as high as $13.20 and last traded at $13.15, with a volume of 1,753,590 shares trading hands. The stock had previously closed at $12.44.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Precision Drilling Corp from $14.00 to $15.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Raymond James upgraded shares of Precision Drilling Corp to an “outperform” rating in a research note on Monday. Finally, analysts at TheStreet upgraded shares of Precision Drilling Corp from a “hold” rating to a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $14.78.
The stock has a 50-day moving average of $11.75 and a 200-day moving average of $10.25. The company has a market cap of $3.869 billion and a P/E ratio of 18.48.
Precision Drilling Corp (NYSE:PDS) last released its earnings data on Monday, April 28th. The company reported $0.35 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.36 by $0.01. The company had revenue of $672.00 million for the quarter, compared to the consensus estimate of $666.75 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. On average, analysts predict that Precision Drilling Corp will post $0.92 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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