Economy

(PD) Price Target Lowered to C$4.75 at Canaccord Genuity

(PD) Price Target Lowered to C$4.75 at Canaccord Genuity”

Precision Drilling Corporation (PDS) stock price away from 20 day simple moving average slumped at -1.06% while its distance from 50 day simple moving average declined -8.63% along with -31.62% below away from two hundred simple moving averages. These analysts have also projected a Low Estimate of $-0.2/share and a High Estimate of $-0.14/share. Citigroup Inc. reiterated an "outperform" rating on shares of Precision Drilling Corporation in a research report on Wednesday, April 26th.

Following U.S. election volatility some analysts have updated their recommended target prices on shares of Precision Drilling Corporation (NYSE:PDS). Raymond James Financial, Inc. restated a "market perform" rating and set a C$7.40 target price on shares of Precision Drilling in a research report on Tuesday, April 25th. Precision Drilling Corporation now has a consensus rating of "Buy" and an average target price of $6.35.

Heading into the stock price potential, Precision Drilling Corporation needs to grow just 55.13% to cross its median price target of $4.84. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. The stock hit its 52-week high on 12/12/16, and 52-week low on 07/18/17.

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Currently Precision Drilling Corp (NYSE:PDS)'s shares owned by insiders are 1%, whereas shares owned by institutional owners are 45.9%.

COPYRIGHT VIOLATION NOTICE: "Precision Drilling Co". Precision Drilling has a 52 week low of $3.68 and a 52 week high of $8.21. The company has market cap of $1.17 billion. The level of 50 represents neutral market momentum and corresponds with the center line in other oscillators such as MACD (Moving Average Convergence/Divergence).

Precision Drilling Corp (NYSE:PDS) shares traded on -2.24% down secure line and closed at $3.05.

As of the last earnings report the EPS was $-0.43 and is expected to be $-0.37 for the current year with 293,238,000 shares now outstanding. The firm had revenue of $346.80 million for the quarter, compared to the consensus estimate of $345.06 million. It has a Return on Investment (ROI) of 8.50% and a gross margin of 36.20%. During the same period in the prior year, the firm earned ($0.07) EPS.

Investors as well as the sell-side will be paying close attention to how the actual numbers compare with the estimates.

Precision Drilling Corporation was downgraded to " by analysts at Piper Jaffray. Cipher Capital LP bought a new position in shares of Precision Drilling Corporation during the first quarter worth approximately $120,000. 1,146,405 shares of the company's stock traded hands. Finally, Bank of Montreal Can raised its stake in Precision Drilling Corporation by 35.6% in the first quarter. The Company's year to date (YTD) performance is now negative at -42.75%. PDS's value Change from Open was at -3.49% with a Gap of -0.32%.

Analysts are also projecting an Average Revenue Estimate for Precision Drilling Corporation as $216090 in the Current Quarter. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry. The Firm operates through two divisions: Contract Drilling Services, and Completion and Production Services.



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