Precision Drilling (TSE:PD) Shares Cross Below 200 Day Moving Average – What’s Next?

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$121.61 and traded as low as C$105.79. Precision Drilling shares last traded at C$107.68, with a volume of 90,451 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PD. ATB Cormark Capital Markets lowered their price target on Precision Drilling from C$165.00 to C$160.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. National Bank Financial raised their price objective on Precision Drilling from C$140.00 to C$150.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Raymond James Financial lifted their target price on Precision Drilling from C$162.00 to C$165.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Royal Bank Of Canada boosted their target price on Precision Drilling from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. Finally, BMO Capital Markets increased their target price on shares of Precision Drilling from C$160.00 to C$165.00 in a report on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Precision Drilling currently has an average rating of “Moderate Buy” and an average price target of C$148.00.

Precision Drilling Trading Down 2.0%

The business’s 50 day simple moving average is C$117.27 and its two-hundred day simple moving average is C$121.50. The stock has a market cap of C$1.36 billion, a P/E ratio of -44.72, a PEG ratio of -3.24 and a beta of 0.34. The company has a quick ratio of 1.36, a current ratio of 1.46 and a debt-to-equity ratio of 43.54.

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

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.