Health Care

Precision Drilling Corporation (NYSE:PDS) closed with a change of -3.83%

Precision Drilling Corporation (NYSE:PDS) closed with a change of -3.83%”

The business had revenue of $314.50 million during the quarter, compared to the consensus estimate of $320.36 million. Return on Equity (ROE) stands at -5.6% and Return on Investment (ROI) of -0.1 percent. Precision Drilling Corporation's revenue for the quarter was up 47.2% compared to the same quarter past year. However the company reported $-0.08 earnings per share for the same quarter during past year.

Precision Drilling Corporation (PDS) belonging to the Energy sector has surged 3.3% and closed its last trading session at $3.13. The return on assets stands at -2.6%, Return on Equity now is -5.6% and the Return on Investment value is -0.1%. The company beat the analyst EPS Estimate with the difference of $0.04.

Taking a broader look brokerage firms' analysts on the street with an expectant view have Precision Drilling Corp (NYSE:PDS) high price target of $5.46 and with a conservative view have low price target of $2.34. BlackRock Institutional Trust Company N.A. now owns 35,896 shares of the company's stock valued at $190,000 after buying an additional 2,667 shares in the last quarter.

While it may be too soon to officially call the bottom for oil drilling companies such as Precision Drilling, the value proposition such companies provide at current levels may be simply too good to ignore for long-term investors willing to "wait it out", with expectations that oil prices will continue to rise and the industry as a whole will return to its once-former glory.

The company's stock is now moving with a -ve distance from the 200 day SMA of approximately -15.9%, and has a solid year to date (YTD) performance of -42.57% which means that the stock is constantly adding to its value from the previous fiscal year end price. DORCHESTER WEALTH MANAGEMENT Co acquired a new position in shares of Precision Drilling Corporation in the third quarter worth approximately $126,000.

Precision Drilling Corp (NYSE:PDS)'s trailing twelve month revenues are $982.3 Million, whereas its price to sales ratio for the same period is 0.93. That puts the market capitalization at $4.39 bln. The number of shares now owned by investors are 293.24 mln.

A number of hedge funds have recently modified their holdings of PDS. They issued a "buy" rating for the company.

Precision Drilling Corporation (NYSE:PDS) received a Buy rating from 6 analysts. Finally, Deutsche Bank AG initiated coverage on Precision Drilling Corporation in a research report on Tuesday, October 10th.

Moving average convergence divergence (MACD) shows that the stock is on a PRICE RELATIVITY trend. Two analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. 2 analysts gave its stock an Outperform rating. Currently, Precision Drilling Corporation (NYSE:PDS) has an average volume of 3 Million. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of USA and worldwide copyright and trademark law. Trading volume for Precision Drilling Corporation was 5.43 Million in its previous trading session. The Company provides contract drilling, well servicing and strategic support services to the oil and gas industry in North America and internationally.

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