Precision Drilling Corp (TSE:PD) (NYSE:PDS) has earned a consensus rating of “Buy” from the twelve research firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$4.80.
Several analysts have recently weighed in on the company. Raymond James reduced their target price on Precision Drilling from C$5.25 to C$4.75 and set a “strong-buy” rating for the company in a report on Friday, July 26th. Citigroup reduced their target price on Precision Drilling from C$4.50 to C$3.50 in a report on Thursday, June 6th. National Bank Financial boosted their target price on Precision Drilling from C$4.25 to C$4.50 and gave the company an “outperform” rating in a report on Thursday, April 25th. Evercore ISI reduced their target price on Precision Drilling from C$5.00 to C$4.50 in a report on Monday, July 29th. Finally, BMO Capital Markets boosted their target price on Precision Drilling from C$4.00 to C$5.00 and gave the company an “outperform” rating in a report on Friday, April 26th.
In related news, Director Carey Thomas Ford acquired 15,120 shares of Precision Drilling stock in a transaction on Tuesday, May 28th. The stock was purchased at an average cost of C$2.45 per share, with a total value of C$37,114.64. Following the purchase, the director now directly owns 147,240 shares in the company, valued at C$361,425.91. Also, Director Kevin A. Neveu acquired 30,000 shares of Precision Drilling stock in a transaction on Thursday, May 30th. The shares were bought at an average cost of C$2.44 per share, with a total value of C$73,260.00. Following the completion of the purchase, the director now owns 1,009,024 shares in the company, valued at C$2,464,036.61.
Precision Drilling (TSE:PD) (NYSE:PDS) last posted its earnings results on Thursday, July 25th. The company reported C($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C($0.10) by C$0.05. The firm had revenue of C$359.42 million during the quarter, compared to analysts’ expectations of C$343.27 million. As a group, research analysts predict that Precision Drilling will post 0.01 EPS for the current fiscal year.
Precision Drilling Company Profile
Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.
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