Precision Drilling (PD) Upgraded to Buy by Canaccord Genuity

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Canaccord Genuity upgraded shares of Precision Drilling (TSE:PD) (NYSE:PDS) from a hold rating to a buy rating in a report released on Friday.

PD has been the topic of a number of other research reports. CIBC lowered their target price on Precision Drilling from C$7.00 to C$6.25 in a report on Tuesday, October 16th. GMP Securities raised their target price on Precision Drilling from C$7.00 to C$7.50 in a report on Tuesday, October 9th. Raymond James lowered their target price on Precision Drilling from C$6.50 to C$5.75 in a report on Monday, October 15th. Cormark raised their target price on Precision Drilling from C$5.50 to C$6.00 in a report on Friday, July 27th. Finally, TD Securities lowered Precision Drilling from an action list buy rating to a buy rating and raised their target price for the company from C$7.00 to C$7.50 in a report on Wednesday, September 5th.

Shares of PD stock traded up C$0.01 during trading on Friday, reaching C$3.47. The company had a trading volume of 1,891,900 shares, compared to its average volume of 2,113,994. The company has a debt-to-equity ratio of 98.29, a current ratio of 1.79 and a quick ratio of 1.65. Precision Drilling has a one year low of C$3.03 and a one year high of C$5.33.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its earnings results on Thursday, October 25th. The company reported C($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of C($0.08) by C($0.02). The business had revenue of C$382.46 million during the quarter, compared to analysts’ expectations of C$395.40 million. Analysts anticipate that Precision Drilling will post -0.02 earnings per share for the current fiscal year.

In other Precision Drilling news, Director Wane Jacob Stickland bought 10,000 shares of the stock in a transaction on Wednesday, October 31st. The shares were purchased at an average price of C$3.17 per share, with a total value of C$31,700.00. Insiders acquired a total of 32,000 shares of company stock worth $88,100 in the last ninety days.

Precision Drilling Company Profile

Precision Drilling Corporation 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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