Cowen and Company Reaffirms Buy Rating for Precision Drilling Corporation (PDS)

Precision Drilling Corp (NYSE:PDS) has average revenue estimates of $268.36 Million, compared to low analyst estimates of $259.38 Million and high estimates of $274.41 Million for the current quarter.

On the other hand Precision Drilling Corp (NYSE:PDS) has Relative Strength Index (RSI 14) of 42.19 along with Average True Range (ATR 14) of 0.15. Legal & General Group held about 0.16% of Precision Drilling Corporation valued $2,146,000 as of its latest document with the Security and Exchange Commission. Cormark analyst J. Zhang anticipates that the oil and gas company will post earnings per share of ($0.09) for the quarter. CIBC boosted their price target on Precision Drilling from C$8.00 to C$11.00 in a report on Thursday, July 20th. Current price places the company's stock -34.13% away from its 200-day simple moving average, -8.66%, away from the 50-day average and also -2.29% away from 20-day average. Canaccord Genuity lowered their price target on Precision Drilling from C$6.50 to C$4.75 in a report on Tuesday, July 11th. However a year ago for the same quarter the company has reported $-0.13 EPS. Precision Drilling Corporation had a negative return on equity of 7.10% and a negative net margin of 12.38%. The stock has a 50-day moving average price of $4.11 and a 200 day moving average price of $5.64.

Previously Precision Drilling Corp (NYSE:PDS) reported $-0.1 earnings per share (EPS) for the quarter, beating the consensus estimate of $-0.16 by $0.06.

Over the past five trading sessions shares of Precision Drilling Corporation (NYSE:PDS) are 1.03%; -3.29% for the month; -22.63% for the last quarter; -46.93% for the past six-months; and -36.91% for the last 12 months.The current price is staying below the SMA lines which signify weakens and is generally unhealthy/negative and may provide the momentum for driving the share price lower. Finally, BidaskClub raised Precision Drilling Corporation from a "strong sell" rating to a "sell" rating in a research note on Tuesday, June 13th. If you are viewing this article on another domain, it was stolen and republished in violation of USA and worldwide trademark & copyright law.

Investment analysts at Cormark issued their Q2 2018 earnings per share estimates for shares of Precision Drilling Corporation in a research note issued on Tuesday.

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In the market the company is trading up by 0.51 percent from yesterday's close. For the current year the company's revenue estimates are $1.05 Billion compared to low analyst estimates of $1.01 Billion and high estimates of $1.1 Billion according to the prediction of 15 analysts. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. Finally, Comerica Bank increased its stake in shares of Precision Drilling Corporation by 8.2% in the fourth quarter. Cipher Capital LP acquired a new stake in Precision Drilling Corporation during the first quarter valued at $120,000.

In other Precision Drilling news, Director Brian James Gibson purchased 35,000 shares of the firm's stock in a transaction dated Tuesday, August 1st. Franklin Resources Inc. now owns 44,803,597 shares of the oil and gas company's stock valued at $153,112,000 after buying an additional 13,815,928 shares during the period. Systematic Financial Management LP raised its stake in shares of Precision Drilling Corporation by 7.7% in the first quarter. Creative Planning now owns 146,468 shares of the oil and gas company's stock worth $691,000 after buying an additional 141,443 shares during the last quarter.

Hedge funds have recently modified their holdings of the company.

Consequently Precision Drilling Corp (NYSE:PDS)'s weekly and monthly volatility is 4.25%, 5.13% respectively. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.

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