Is Precision Drilling (NYSE:PDS) Now a Sell? How Analysts Rate it and Why J.P. Morgan Downgraded The Stock

September 17, 2017 - By Jacob Falcon

 Is Precision Drilling (NYSE:PDS) Now a Sell? How Analysts Rate it and Why J.P. Morgan Downgraded The Stock

Precision Drilling (NYSE:PDS) Receives a Downgrade

Precision Drilling (NYSE:PDS) shares were lowered by J.P. Morgan to a Hold rating in a report sent to investors on 12 September.

Precision Drilling Corp (USA) (NYSE:PDS) Ratings Coverage

Among 19 analysts covering Precision Drilling Corporation (NYSE:PDS), 9 have Buy rating, 0 Sell and 10 Hold. Therefore 47% are positive. Precision Drilling Corporation has $8.35 highest and $2 lowest target. $5.81’s average target is 102.44% above currents $2.87 stock price. Precision Drilling Corporation had 45 analyst reports since July 24, 2015 according to SRatingsIntel. Cowen & Co maintained Precision Drilling Corp (USA) (NYSE:PDS) on Thursday, August 10 with “Buy” rating. The rating was upgraded by Tudor Pickering on Tuesday, November 29 to “Buy”. Raymond James downgraded the stock to “Underperform” rating in Wednesday, April 20 report. Morgan Stanley downgraded Precision Drilling Corp (USA) (NYSE:PDS) on Wednesday, June 21 to “Equal-Weight” rating. The rating was maintained by Evercore with “Buy” on Saturday, August 22. Simmons & Co downgraded Precision Drilling Corp (USA) (NYSE:PDS) on Monday, October 26 to “Neutral” rating. The stock has “Buy” rating by DA Davidson on Thursday, September 15. RBC Capital Markets maintained Precision Drilling Corp (USA) (NYSE:PDS) on Friday, February 12 with “Outperform” rating. The stock has “Market Perform” rating by Raymond James on Tuesday, February 2. The stock of Precision Drilling Corp (USA) (NYSE:PDS) has “Hold” rating given on Thursday, August 3 by Piper Jaffray.

It closed at $2.87 lastly. It is down 14.25% since September 17, 2016 and is downtrending. It has underperformed by 30.95% the S&P500.

Wall Street await Precision Drilling Corp (USA) (NYSE:PDS) to release earnings on October, 20. Analysts forecast earnings per share of $-0.09, up exactly $0.04 or 30.77 % from 2014’s $-0.13 EPS. After posting $-0.09 EPS for the previous quarter, Precision Drilling Corp (USA)’s analysts now forecast 0.00 % EPS growth.

Precision Drilling Corporation is an oilfield services company. The company has market cap of $841.81 million. The Firm provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. It currently has negative earnings. The Firm operates through two divisions: Contract Drilling Services, and Completion and Production Services.

Another recent and important Precision Drilling Corp (USA) (NYSE:PDS) news was published by Fool.com which published an article titled: “Here’s Why Nabors Industries Ltd., Patterson-UTI Energy, Inc., and Precision …” on November 30, 2016.

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