Precision Drilling Co. (NYSE: PDS) Based on average analyst ‘buy’ recommendation
Precision Drilling Co. (NYSE: PDS) (TSE: PD) has received a consensus recommendation to “Buy” from the fourteen research companies that cover the stock, reports Marketbeat.com. One analyst rated the stock with a sell recommendation, four gave a hold recommendation, and eight gave the company a buy recommendation. The one-year average price target among brokerage firms that hedged the stock in the past year is $ 59.25.
A number of analysts have recently published reports on PDS shares. The Royal Bank of Canada reaffirmed a âbuyâ rating and set a price target of C $ 66.00 on Precision Drilling shares in a research report released on Friday, October 8. Raymond James upgraded Precision Drilling from an “outperformance” rating to a “market performance” rating in a research report released on Thursday, October 21. Evercore ISI upgraded Precision Drilling to a âbuyâ rating and set a price target of $ 70.00 on the stock in a research report released on Friday, October 15. CIBC increased its price target on Precision Drilling from C $ 60.00 to C $ 65 and gave the company a “neutral” rating in a research report released on Friday, October 15. Finally, Tudor Pickering reiterated a âbuyâ note on Precision Drilling shares in a research report on Friday, September 24.
Shares of PDS opened at $ 41.30 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.45, and a debt ratio of 0.93. Precision Drilling has a one-year low at $ 19.22 and a one-year high at $ 50.42. The company’s 50-day average mobile price is $ 36.24, and its 200-day average mobile price is $ 36.55. The stock has a market cap of $ 549.46 million, a P / E ratio of -3.70 and a beta of 2.99.
Precision Drilling (NYSE: PDS) (TSE: PD) last reported quarterly results on Wednesday, October 20. The oil and gas company reported ($ 2.88) earnings per share (EPS) for the quarter, missing the Thomson Reuters consensus estimate ($ 1.56) ($ 1.32). Precision Drilling recorded a negative net margin of 21.12% and a negative return on equity of 14.34%. The company posted revenue of $ 253.80 million for the quarter, compared to analysts’ estimates of $ 277.66 million. In the same quarter of the previous year, the company achieved earnings per share ($ 1.60). The company’s quarterly revenue increased 54.0% compared to the same quarter last year. On average, research analysts expect Precision Drilling to post earnings per share of -9.8 for the current year.
Several institutional investors and hedge funds have recently changed their holdings in the company. Polar Asset Management Partners Inc. increased its stake in Precision Drilling shares by 4.8% during the third quarter. Polar Asset Management Partners Inc. now owns 953,252 shares of the oil and gas company valued at $ 38,521,000 after acquiring an additional 43,602 shares during the period. Royal Bank of Canada increased its holdings of Precision Drilling shares by 14.3% in the third quarter. Royal Bank of Canada now owns 60,592 shares of the oil and gas company valued at $ 2,449,000 after acquiring 7,587 additional shares in the last quarter. MD Financial Management Inc. increased its holdings of Precision Drilling shares by 72,588.5% in the third quarter. MD Financial Management Inc. Now owns 101,037 shares of the oil and gas company valued at $ 4,083,000 after purchasing an additional 100,898 shares in the last quarter. Invesco Ltd. increased its holdings of Precision Drilling shares by 6.5% in the third quarter. Invesco Ltd. Now owns 15,423 shares of the oil and gas company valued at $ 623,000 after purchasing an additional 937 shares last quarter. Finally, Dimensional Fund Advisors LP increased its holdings of Precision Drilling shares by 163.8% during the third quarter. Dimensional Fund Advisors LP now owns 36,395 shares of the oil and gas company valued at $ 1,471,000 after purchasing an additional 22,597 shares in the last quarter. 39.99% of the shares are currently held by institutional investors and hedge funds.
About precision drilling
Precision Drilling Corp. provides onshore drilling, completion and production services to the oil and gas industry. It operates through the following segments: Contract drilling services; and Completion and Production Services. The Contract Drilling Services segment includes drilling rigs, directional drilling, supply and distribution of oilfield supplies, as well as the manufacture, sale and repair of drilling equipment.
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