Precision Drilling Co. (NYSE:PDS) Receives Consensus Rating of “Buy” from Analysts

Precision Drilling Co. (NYSE:PDSGet Rating) (TSE:PD) has earned a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $108.90.

Several analysts recently issued reports on PDS shares. Piper Sandler cut their price target on Precision Drilling from $115.00 to $110.00 in a report on Wednesday, May 4th. StockNews.com started coverage on Precision Drilling in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Canaccord Genuity Group lifted their target price on Precision Drilling from C$85.00 to C$105.00 and gave the company a “hold” rating in a research note on Friday, April 22nd. National Bank Financial lifted their target price on Precision Drilling from C$65.00 to C$80.00 in a research note on Friday, February 11th. Finally, Raymond James lifted their target price on Precision Drilling from C$62.50 to C$115.00 in a research note on Tuesday, March 29th.

Shares of NYSE PDS opened at $62.39 on Friday. The company has a market cap of $847.88 million, a price-to-earnings ratio of -5.61 and a beta of 2.50. Precision Drilling has a 12-month low of $26.12 and a 12-month high of $85.29. The company has a current ratio of 1.71, a quick ratio of 1.60 and a debt-to-equity ratio of 0.98. The stock’s 50 day simple moving average is $69.84 and its 200 day simple moving average is $51.58.

Precision Drilling (NYSE:PDSGet Rating) (TSE:PD) last announced its quarterly earnings results on Thursday, April 28th. The oil and gas company reported ($2.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($1.77). The company had revenue of $351.00 million during the quarter, compared to the consensus estimate of $329.17 million. Precision Drilling had a negative return on equity of 14.98% and a negative net margin of 16.91%. The company’s revenue for the quarter was up 48.4% on a year-over-year basis. During the same period last year, the business posted ($2.13) EPS. As a group, equities analysts forecast that Precision Drilling will post -3.75 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of PDS. US Bancorp DE raised its stake in shares of Precision Drilling by 88.7% in the 3rd quarter. US Bancorp DE now owns 619 shares of the oil and gas company’s stock worth $25,000 after buying an additional 291 shares in the last quarter. Great West Life Assurance Co. Can bought a new stake in shares of Precision Drilling in the 1st quarter worth $27,000. Marshall Wace LLP bought a new stake in shares of Precision Drilling in the 1st quarter worth $36,000. Verdad Advisers LP acquired a new position in shares of Precision Drilling in the 4th quarter worth $37,000. Finally, Ahrens Investment Partners LLC acquired a new position in shares of Precision Drilling in the 4th quarter worth $39,000. 43.04% of the stock is currently owned by institutional investors.

About Precision Drilling (Get Rating)

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates in two segments, Contract Drilling Services; and Completion and Production Services.

Featured Stories

Analyst Recommendations for Precision Drilling (NYSE:PDS)

Receive News & Ratings for Precision Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Precision Drilling and related companies with MarketBeat.com's FREE daily email newsletter.