Precision Drilling (TSE:PD) Stock Price Breaks Below 200-Day Moving Average – Should You Sell?

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s stock price passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of C$123.17 and traded as low as C$114.96. Precision Drilling shares last traded at C$116.00, with a volume of 33,204 shares.

Analyst Ratings Changes

Several brokerages have recently issued reports on PD. ATB Cormark Capital Markets decreased their price objective on Precision Drilling from C$165.00 to C$160.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce decreased their price target on Precision Drilling from C$160.00 to C$155.00 in a research note on Thursday, July 30th. Finally, TD dropped their price objective on Precision Drilling from C$124.00 to C$116.00 and set a “hold” rating for the company in a report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of C$148.00.

Precision Drilling Stock Down 1.4%

The company has a current ratio of 1.46, a quick ratio of 1.36 and a debt-to-equity ratio of 43.54. The business has a 50-day moving average price of C$118.69 and a 200-day moving average price of C$123.17. The firm has a market cap of C$1.46 billion, a P/E ratio of -49.15, a P/E/G ratio of -3.24 and a beta of 0.45.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its earnings results on Wednesday, July 29th. The company reported C($0.52) earnings per share (EPS) for the quarter. The business had revenue of C$452.80 million for the quarter. Precision Drilling had a negative return on equity of 2.03% and a negative net margin of 1.71%.

Precision Drilling Company Profile

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.