Precision Drilling (TSE:PD) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$121.37 and traded as low as C$101.22. Precision Drilling shares last traded at C$102.90, with a volume of 246,650 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. BMO Capital Markets boosted their price objective on Precision Drilling from C$160.00 to C$165.00 in a report on Thursday, April 30th. Raymond James Financial lifted their target price on shares of Precision Drilling from C$162.00 to C$165.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Royal Bank Of Canada upped their price target on shares of Precision Drilling from C$140.00 to C$150.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. ATB Cormark Capital Markets decreased their price objective on shares of Precision Drilling from C$165.00 to C$160.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, National Bank Financial lifted their price objective on shares of Precision Drilling from C$140.00 to C$150.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$148.00.

Precision Drilling Stock Up 2.2%

The company has a debt-to-equity ratio of 43.54, a current ratio of 1.46 and a quick ratio of 1.36. The business has a 50 day simple moving average of C$119.59 and a 200 day simple moving average of C$121.42. The stock has a market cap of C$1.40 billion, a PE ratio of -46.19, a P/E/G ratio of -3.24 and a beta of 0.42.

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. The firm had revenue of C$452.80 million during 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.