Precision Drilling Corp Short Interest Down 41.2% in April (PDS)
Shares of Precision Drilling Corp (NYSE:PDS) were the recipient of a significant decrease in short interest in April. As of April 30th, there was short interest totalling 695,324 shares, a decrease of 41.2% from the April 15th total of 1,181,635 shares, AnalystRatings.Net reports. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,777,045 shares, the days-to-cover ratio is currently 0.2 days.
A number of research firms have recently commented on PDS. Analysts at Barclays upgraded shares of Precision Drilling Corp from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, May 21st. They now have a $17.00 price target on the stock, up previously from $15.00. Separately, analysts at Cowen and Company raised their price target on shares of Precision Drilling Corp from $12.00 to $15.00 in a research note on Friday, May 2nd. They now have an “outperform” rating on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of Precision Drilling Corp from $16.00 to $18.00 in a research note on Wednesday, April 30th. They now have an “overweight” rating on the stock. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Precision Drilling Corp presently has an average rating of “Buy” and a consensus target price of $15.78.
Precision Drilling Corp (NYSE:PDS) opened at 12.68 on Tuesday. Precision Drilling Corp has a 52 week low of $8.16 and a 52 week high of $13.33. The stock has a 50-day moving average of $12.49 and a 200-day moving average of $10.53. The company has a market cap of $3.706 billion and a price-to-earnings ratio of 20.06.
Precision Drilling Corp (NYSE:PDS) last issued its quarterly earnings data on Monday, April 28th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts predict that Precision Drilling Corp will post $0.81 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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