Precision Drilling Corp Receives “Sector Outperform” Rating from Scotiabank (PDS)
A number of other firms have also recently commented on PDS. Analysts at Clarkson Capital initiated coverage on shares of Precision Drilling Corp in a research note on Thursday, June 19th. They set an “outperform” rating and a $18.00 price target on the stock. Separately, 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. Finally, 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. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Precision Drilling Corp presently has an average rating of “Buy” and a consensus price target of $15.78.
Shares of Precision Drilling Corp (NYSE:PDS) traded down 2.27% during mid-day trading on Monday, hitting $14.21. 852,550 shares of the company’s stock traded hands. Precision Drilling Corp has a one year low of $8.51 and a one year high of $14.65. The stock has a 50-day moving average of $13.37 and a 200-day moving average of $11.37. The company has a market cap of $4.153 billion and a P/E ratio of 22.68. Precision Drilling Corp also saw a significant increase in short interest in June. As of June 13th, there was short interest totalling 1,224,819 shares, an increase of 101.8% from the May 30th total of 606,802 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average trading volume of 1,771,178 shares, the short-interest ratio is currently 0.7 days.
Precision Drilling Corp (NYSE:PDS) last announced its earnings results 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. Analysts expect that Precision Drilling Corp will post $0.81 EPS 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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