Precision Drilling (TSE:PD) Share Price Passes Below 200-Day Moving Average - Should You Sell?

Key Points

• Precision Drilling shares fell below their 200-day moving average, trading as low as C$121.56 versus the C$123.30 average, and last changing hands at C$122.02.
• Analysts have recently lowered their price targets, but the stock retains a “Moderate Buy” consensus with an average target of C$148.00; ratings are split between three Buys and three Holds.
• The company reported a quarterly loss of C$0.52 per share on C$452.8 million in revenue, alongside a negative net margin of 1.71% and negative return on equity of 2.03%.

Shares of Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$123.30 and traded as low as C$121.56. Precision Drilling shares last traded at C$122.02, with a volume of 51,770 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PD shares. Canadian Imperial Bank of Commerce cut their price target on Precision Drilling from C$160.00 to C$155.00 in a research note on Thursday, July 30th. TD dropped their price objective on shares of Precision Drilling from C$124.00 to C$116.00 and set a "hold" rating on the stock in a report on Thursday, July 30th. Finally, ATB Cormark Capital Markets cut their target price on shares of Precision Drilling from C$165.00 to C$160.00 and set an "outperform" rating for the company in a research report on Thursday, July 30th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of C$148.00.

Precision Drilling Price Performance

The firm has a 50 day moving average price of C$118.43 and a 200 day moving average price of C$123.30. The company has a quick ratio of 1.36, a current ratio of 1.46 and a debt-to-equity ratio of 43.54. The stock has a market cap of C$1.57 billion, a P/E ratio of -51.70, a P/E/G ratio of -3.24 and a beta of 0.45.

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

About Precision Drilling

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.

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