Precision Drilling Corporation (NYSE:PDS) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Moderate Buy consensus from seven analysts (1 sell, 2 hold, 3 buy, 1 strong buy) and an average 1‑year price target of about $122.33.
• Latest quarter beat EPS expectations ($1.37 vs. $1.11) but revenue missed significantly ($349.4M vs. $489.8M); shares trade near $95 with a market cap of about $1.23B and a negative trailing P/E.
• Institutional investors own roughly 48.9% of the company, with several funds recently adding or increasing small positions.

Precision Drilling Corporation (NYSE:PDS - Get Free Report) TSE: PD has been given an average rating of "Moderate Buy" by the seven ratings firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $122.3333.

PDS has been the subject of several recent research reports. Zacks Research upgraded Precision Drilling from a "strong sell" rating to a "hold" rating in a research note on Friday, January 30th. BMO Capital Markets reiterated an "outperform" rating on shares of Precision Drilling in a research note on Thursday, February 12th. Wall Street Zen cut Precision Drilling from a "buy" rating to a "hold" rating in a research note on Sunday, March 22nd. Loop Capital set a $122.00 price target on Precision Drilling in a research note on Monday, March 2nd. Finally, TD Securities reiterated a "hold" rating on shares of Precision Drilling in a research note on Thursday, February 12th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PDS. Cubist Systematic Strategies LLC acquired a new position in Precision Drilling during the first quarter valued at approximately $45,000. Quarry LP acquired a new position in Precision Drilling during the third quarter valued at approximately $54,000. Raymond James Financial Inc. acquired a new position in Precision Drilling during the second quarter valued at approximately $57,000. Wolverine Asset Management LLC raised its position in Precision Drilling by 112.9% during the fourth quarter. Wolverine Asset Management LLC now owns 802 shares of the oil and gas company's stock valued at $58,000 after purchasing an additional 7,000 shares in the last quarter. Finally, US Bancorp DE raised its position in Precision Drilling by 52.3% during the third quarter. US Bancorp DE now owns 1,188 shares of the oil and gas company's stock valued at $67,000 after purchasing an additional 408 shares in the last quarter. 48.86% of the stock is currently owned by institutional investors and hedge funds.

Precision Drilling Trading Up 3.3%

Shares of NYSE:PDS opened at $95.11 on Friday. Precision Drilling has a 12-month low of $39.67 and a 12-month high of $103.80. The stock has a market cap of $1.23 billion, a PE ratio of -243.87 and a beta of 0.96. The business has a 50 day moving average of $92.01 and a 200-day moving average of $76.00. The company has a quick ratio of 1.46, a current ratio of 1.62 and a debt-to-equity ratio of 0.43.

Precision Drilling (NYSE:PDS - Get Free Report) TSE: PD last issued its quarterly earnings data on Wednesday, February 11th. The oil and gas company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.26. The company had revenue of $349.37 million during the quarter, compared to analysts' expectations of $489.80 million. Precision Drilling had a return on equity of 4.12% and a net margin of 0.05%. As a group, equities research analysts forecast that Precision Drilling will post 6.45 earnings per share for the current year.

Precision Drilling Company Profile

Precision Drilling Corporation NYSE: PDS is a Calgary, Alberta–based oilfield services company that has provided drilling solutions since its founding in 1951. With more than seven decades of industry experience, the company delivers contract drilling services, directional and horizontal drilling, well servicing, and a suite of specialized equipment designed to meet the evolving needs of exploration and production companies worldwide.

The company's core business activities include operating a fleet of onshore drilling rigs, offering managed pressure drilling, measurement-while-drilling (MWD) and logging-while-drilling (LWD) services, and providing completion and workover rigs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.