Precision Drilling Corp (NYSE:PDS) (TSE:PD) has earned a consensus rating of “Buy” from the eighteen research firms that are presently covering the stock. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $6.73.

Several equities research analysts have recently issued reports on the stock. Raymond James Financial, Inc. upgraded shares of Precision Drilling Corp from an “underperform” rating to a “market perform” rating and set a $6.30 target price for the company in a report on Friday, February 10th. Zacks Investment Research lowered shares of Precision Drilling Corp from a “buy” rating to a “hold” rating in a report on Wednesday, December 28th. Wolfe Research upgraded shares of Precision Drilling Corp from a “market perform” rating to an “outperform” rating in a report on Wednesday, December 7th. Piper Jaffray Companies upgraded shares of Precision Drilling Corp from a “neutral” rating to an “overweight” rating and set a $7.00 target price for the company in a report on Friday, January 6th. Finally, JPMorgan Chase & Co. upgraded shares of Precision Drilling Corp from a “neutral” rating to an “overweight” rating in a report on Friday, February 3rd.

Shares of Precision Drilling Corp (NYSE:PDS) opened at 4.59 on Tuesday. The stock’s market cap is $1.35 billion. The firm has a 50-day moving average of $5.20 and a 200-day moving average of $4.93. Precision Drilling Corp has a one year low of $3.51 and a one year high of $6.25.

Precision Drilling Corp (NYSE:PDS) last released its earnings results on Thursday, February 9th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. The firm earned $284 million during the quarter, compared to analyst estimates of $196.97 million. Precision Drilling Corp had a negative net margin of 16.58% and a negative return on equity of 8.01%. The business’s revenue was down 17.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.93) EPS. On average, equities research analysts expect that Precision Drilling Corp will post ($0.34) earnings per share for the current fiscal year.

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A number of large investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its stake in shares of Precision Drilling Corp by 0.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 50,669 shares of the company’s stock worth $276,000 after buying an additional 148 shares during the last quarter. Comerica Bank raised its stake in shares of Precision Drilling Corp by 8.2% in the fourth quarter. Comerica Bank now owns 34,183 shares of the company’s stock worth $186,000 after buying an additional 2,586 shares during the last quarter. Pacad Investment Ltd. raised its stake in shares of Precision Drilling Corp by 10.3% in the fourth quarter. Pacad Investment Ltd. now owns 44,900 shares of the company’s stock worth $245,000 after buying an additional 4,200 shares during the last quarter. Scotia Capital Inc. raised its stake in shares of Precision Drilling Corp by 3.9% in the fourth quarter. Scotia Capital Inc. now owns 133,544 shares of the company’s stock worth $727,000 after buying an additional 4,967 shares during the last quarter. Finally, HBK Investments L P raised its stake in shares of Precision Drilling Corp by 3.7% in the third quarter. HBK Investments L P now owns 402,500 shares of the company’s stock worth $1,682,000 after buying an additional 14,336 shares during the last quarter. Institutional investors own 72.77% of the company’s stock.

Precision Drilling Corp Company Profile

Precision Drilling Corporation (Precision) provides contract drilling, and completion and production services primarily to oil and natural gas exploration and production companies in Canada, the United States and certain international locations. It operates through two segments: Contract Drilling Services, and Completion and Production Services.

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