Economy

Precision Drilling Corporation (NASDAQ:PDS) To Release Earnings

In terms of Buy, Sell or Hold recommendations, Precision Drilling Corp (NYSE:PDS) has analysts' mean recommendation of 1.9.

Excluding items, the company reported a loss of 9 Canadian cents per share, less than the estimate of 12 Canadian cents per share, according to Thomson Reuters I/B/E/S. Bank of New York Mellon Corp boosted its position in Precision Drilling Corp.by 28.6% in the second quarter. The stock exchanged hands 2.57 Million shares versus average trading capacity of 2.92 Million shares, yielding a market cap of $691.59 Million. Fidelity Management and Research Company is the second biggest holder with 31 million shares now valued at 77.20 million whilst Templeton Global Advisors Limited has 24 million shares valued at 80.53 million.

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Taking a broader look brokerage firms' analysts on the street with an expectant view have Precision Drilling Corp (NYSE:PDS) high price target of $6.34 and with a conservative view have low price target of $2.38. The stock's market capitalization is $1.41 billion. The stock's 50 day moving average price is $3.47 and its 200-day moving average price is $4.39.

Precision Drilling Corp. had a negative net margin of 37.17% and a negative return on equity of 5.54%. Average estimation for the current quarter has been provided by 18 analysts.

Precision Drilling Corp (NYSE:PDS)'s revenue estimates for the current quarter are $256.23 Million according to 12 number of analysts, for the current quarter the company has high revenue estimates of $278.41 Million in contradiction of low revenue estimates of $239.61 Million. Precision Drilling Corp. The company's quarterly revenue was down 44.6% compared to the same quarter past year.

Additionally on 9/18/17 PiperJaffray "Upgrades" Precision Drilling Corp (NYSE:PDS) to Overweight setting price target at $0 and on 9/12/17 JP Morgan "Downgrades" the stock to Neutral at $0. Deutsche Bank AG reaffirmed a "hold" rating and issued a C$4.00 price objective on shares of Precision Drilling in a research report on Tuesday, October 10th. During the same quarter a year ago, the company posted ($0.30) EPS. Finally, CIBC dropped their price target on Precision Drilling from C$8.00 to C$7.00 in a research note on Friday, October 20th. Several studies suggest that positive earnings surprises not only lead to an immediate hike in a stock's price, but also to a gradual increase over time. Raymond James Financial, Inc. dropped their target price on Precision Drilling from C$6.50 to C$5.75 and set a "speculative buy" rating for the company in a report on Tuesday, August 22nd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company now has an average rating of "Hold" and an average price target of $5.65. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. It operates through two segments: Contract Drilling Services, and Completion and Production Services.



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