Economy

JP Morgan Hits Precision Drilling (NYSE:PDS) Hard With Today's Downgrade

JP Morgan Hits Precision Drilling (NYSE:PDS) Hard With Today's Downgrade”

Piper Jaffray upgraded Precision Drilling Corp (USA) (NYSE:PDS) on Friday, January 6 to "Overweight" rating. BMO Capital Markets lowered their target price on Precision Drilling from C$9.00 to C$6.00 and set an outperform rating for the company in a report on Tuesday, August 1st. Inteliquent had 4 analyst reports since August 20, 2015 according to SRatingsIntel. The stock of Precision Drilling Corp (USA) (NYSE:PDS) has "Neutral" rating given on Monday, October 26 by Simmons & Co. The stock of Precision Drilling Corp (USA) (NYSE:PDS) has "Neutral" rating given on Friday, September 4 by Credit Suisse. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Precision Drilling Corporation now has an average rating of "Hold" and a consensus price target of $6.21. The stock of Precision Drilling Corp (USA) (NYSE:PDS) earned "Equal-Weight" rating by Morgan Stanley on Wednesday, June 21. Market Cap is also the figure use to determine company's size, as opposed to using sales or total asset figures.

Cove Street Capital Llc holds 2.52% of its portfolio in Hallmark Financial Services, Inc. for 2.08 million shares. Scotia Capital maintained Precision Drilling Corporation (TSE:PD) rating on Friday, July 22.

Shares of Precision Drilling Corporation (NYSE PDS) opened at 2.87 on Monday. Analysts forecast earnings per share of $-0.09, up exactly $0.04 or 30.77 % from 2014's $-0.13 EPS. The company had revenue of $275.52 million during the quarter, compared to the consensus estimate of $271.33 million. Precision Drilling Corporation had a negative net margin of 12.38% and a negative return on equity of 7.10%. The firm's revenue was up 68.0% on a year-over-year basis. During the same quarter a year ago, the company posted ($0.20) earnings per share. On average, equities analysts expect that Precision Drilling Corporation will post ($0.33) earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This article was originally posted by BBNS and is the property of of BBNS.

Large investors have recently added to or reduced their stakes in the company. Schwab Charles Invest Mgmt Inc owns 239,331 shares or 0.01% of their U.S. portfolio. Airain ltd bought a new stake in shares of Precision Drilling Corporation in the 1st quarter valued at about $935,000. Price T Rowe Associate Inc Md reported 39,900 shares. Systematic Financial Management LP now owns 15,391,797 shares of the oil and gas company's stock valued at $72,649,000 after buying an additional 1,099,574 shares in the last quarter. Bank of Nova Scotia raised its stake in shares of Precision Drilling Corporation by 25.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 926,685 shares of the oil and gas company's stock valued at $3,160,000 after purchasing an additional 52,501 shares in the last quarter. After having $-0.09 EPS previously, Precision Drilling Corp (USA)'s analysts see 0.00 % EPS growth. The Vanguard Group Inc holds 2.85M shares with $65.23 million value, down from 2.89 million last quarter. Hedge funds and other institutional investors own 61.45% of the company's stock. The Firm markets, distributes, underwrites and services its property/casualty insurance products to businesses and individuals.

Precision Drilling Corporation is an oilfield services company. The Completion and Production Services segment provides completion and workover services and ancillary services to oil and natural gas exploration and production companies in Canada and the United States.



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