Precision Drilling (TSE:PD) Stock Crosses Below 200-Day Moving Average – What’s Next?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$123.30 and traded as low as C$121.56. Precision Drilling shares last traded at C$122.02, with a volume of 51,770 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PD. ATB Cormark Capital Markets decreased their target price on Precision Drilling from C$165.00 to C$160.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Canadian Imperial Bank of Commerce dropped their price target on Precision Drilling from C$160.00 to C$155.00 in a research report on Thursday, July 30th. Finally, TD cut their price target on Precision Drilling from C$124.00 to C$116.00 and set a “hold” rating for the company in a report on Thursday, July 30th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$148.00.

Precision Drilling Trading Up 0.8%

The company has a market cap of C$1.58 billion, a PE ratio of -52.13, a price-to-earnings-growth ratio of -3.24 and a beta of 0.45. The company’s 50 day simple moving average is C$118.62 and its two-hundred day simple moving average is C$123.30. The company has a debt-to-equity ratio of 43.54, a current ratio of 1.46 and a quick ratio of 1.36.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings results on Wednesday, July 29th. The company reported C($0.52) earnings per share (EPS) for the quarter. The company 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.