Precision Drilling Corp. (PDS) Earns “Outperform” Rating from RBC Capital Markets
Precision Drilling Corp. (NYSE:PDS)‘s stock had its “outperform” rating reissued by equities researchers at RBC Capital Markets in a research report issued on Saturday. They currently have a $8.00 target price on the stock. RBC Capital Markets’ price target suggests a potential upside of 73.16% from the company’s current price.
PDS has been the topic of several other reports. Zacks Investment Research lowered shares of Precision Drilling Corp. from a “buy” rating to a “hold” rating in a research report on Saturday, July 23rd. Deutsche Bank AG set a $5.00 price target on shares of Precision Drilling Corp. and gave the company a “hold” rating in a research report on Sunday, July 24th. Jefferies Group reiterated a “sell” rating and issued a $4.00 price target on shares of Precision Drilling Corp. in a research report on Tuesday, July 26th. DA Davidson began coverage on shares of Precision Drilling Corp. in a research report on Thursday, September 15th. They issued a “buy” rating on the stock. Finally, Scotiabank reiterated an “underperform” rating and issued a $6.00 price target (up from $3.50) on shares of Precision Drilling Corp. in a research report on Tuesday, July 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $5.65.
Shares of Precision Drilling Corp. (NYSE:PDS) opened at 4.62 on Friday. Precision Drilling Corp. has a 12-month low of $2.43 and a 12-month high of $6.08. The firm’s market cap is $1.35 billion. The company has a 50-day moving average of $4.09 and a 200 day moving average of $4.54.
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Precision Drilling Corp. (NYSE:PDS) last released its quarterly earnings results on Thursday, July 21st. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.04. The business had revenue of $164 million for the quarter, compared to analyst estimates of $172.98 million. Precision Drilling Corp. had a negative net margin of 37.17% and a negative return on equity of 5.54%. The company’s quarterly revenue was down 51.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.10) earnings per share. Equities research analysts anticipate that Precision Drilling Corp. will post ($0.48) earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of PDS. BlackRock Institutional Trust Company N.A. bought a new position in Precision Drilling Corp. during the first quarter worth $140,000. Pacad Investment Ltd. bought a new position in Precision Drilling Corp. during the second quarter worth $196,000. Dynamic Technology Lab Private Ltd bought a new position in Precision Drilling Corp. during the second quarter worth $218,000. Shell Asset Management Co. increased its position in Precision Drilling Corp. by 14.1% in the second quarter. Shell Asset Management Co. now owns 34,700 shares of the company’s stock worth $238,000 after buying an additional 4,300 shares in the last quarter. Finally, AHL Partners LLP bought a new position in Precision Drilling Corp. during the second quarter worth $306,000. 72.90% of the stock is currently owned by institutional investors.
Precision Drilling Corp. Company Profile
Precision Drilling Corporation (Precision) provides contract drilling, and completion and production services primarily to oil and natural gas exploration and production companies in Canada, the United States and certain international locations. It operates through two segments: Contract Drilling Services, and Completion and Production Services.
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