ValuEngine upgraded shares of Precision Drilling (NYSE:PDS) (TSE:PD) from a sell rating to a hold rating in a research report report published on Thursday morning, ValuEngine reports.
PDS has been the subject of several other reports. Piper Jaffray Companies decreased their price target on Precision Drilling from $2.50 to $2.00 and set an overweight rating for the company in a report on Tuesday, July 30th. Morgan Stanley decreased their price target on Precision Drilling from $3.50 to $3.00 and set an overweight rating for the company in a report on Friday, July 12th. BMO Capital Markets reaffirmed a buy rating on shares of Precision Drilling in a report on Friday, April 26th. AltaCorp Capital reaffirmed an outperform rating on shares of Precision Drilling in a report on Thursday, June 20th. Finally, Zacks Investment Research downgraded Precision Drilling from a buy rating to a hold rating in a report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $2.47.
Shares of PDS traded down $0.09 during mid-day trading on Thursday, reaching $1.47. 37,135 shares of the company’s stock were exchanged, compared to its average volume of 697,598. The company has a quick ratio of 1.70, a current ratio of 1.83 and a debt-to-equity ratio of 1.01. The stock has a market cap of $458.30 million, a PE ratio of -5.67 and a beta of 2.25. The stock’s fifty day simple moving average is $1.77. Precision Drilling has a 52-week low of $1.53 and a 52-week high of $4.12.
Precision Drilling (NYSE:PDS) (TSE:PD) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. Precision Drilling had a negative return on equity of 2.67% and a negative net margin of 13.63%. The firm had revenue of $359.00 million during the quarter, compared to the consensus estimate of $346.66 million. During the same period last year, the company earned ($0.16) earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts forecast that Precision Drilling will post -0.11 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in shares of Precision Drilling during the 1st quarter worth $36,000. Investment House LLC acquired a new position in shares of Precision Drilling during the 2nd quarter worth $39,000. Millennium Management LLC acquired a new position in shares of Precision Drilling during the 4th quarter worth $40,000. Evergreen Capital Management LLC acquired a new position in shares of Precision Drilling during the 1st quarter worth $54,000. Finally, Creative Planning acquired a new position in shares of Precision Drilling during the 1st quarter worth $65,000. 43.30% of the stock is owned by institutional investors.
Precision Drilling Company Profile
Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.
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