Precision Drilling (TSE:PD) (NYSE:PDS) was downgraded by Raymond James from an “outperform” rating to a “market perform” rating in a note issued to investors on Thursday, BayStreet.CA reports. They presently have a C$0.90 target price on the stock. Raymond James’ target price points to a potential downside of 11.76% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. CIBC reduced their price target on shares of Precision Drilling from C$1.75 to C$1.50 in a report on Wednesday, April 22nd. Royal Bank of Canada boosted their price objective on shares of Precision Drilling from C$1.10 to C$1.25 and gave the company an “outperform” rating in a research report on Friday, May 1st. National Bank Financial cut their price objective on shares of Precision Drilling from C$1.50 to C$1.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. AltaCorp Capital cut their price objective on shares of Precision Drilling from C$1.10 to C$0.80 in a research report on Wednesday, April 15th. Finally, Citigroup cut their price objective on shares of Precision Drilling from C$0.80 to C$0.50 in a research report on Wednesday, March 25th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of C$1.25.
Shares of TSE PD traded down C$0.11 on Thursday, hitting C$1.02. The company’s stock had a trading volume of 1,343,379 shares, compared to its average volume of 1,787,825. Precision Drilling has a 12-month low of C$0.39 and a 12-month high of C$2.58. The company has a market capitalization of $282.45 million and a price-to-earnings ratio of -12.29. The company has a debt-to-equity ratio of 101.13, a current ratio of 2.04 and a quick ratio of 1.90. The stock has a 50 day moving average of C$0.72 and a 200-day moving average of C$1.25.
Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings results on Thursday, April 30th. The company reported C($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of C($0.03) by C$0.01. The business had revenue of C$379.48 million during the quarter, compared to analysts’ expectations of C$370.95 million. Sell-side analysts expect that Precision Drilling will post -0.68 EPS for the current fiscal year.
About Precision Drilling
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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