ATB Cormark Capital Markets lowered shares of Akita Drilling (TSE:AKT – Free Report) from a moderate buy rating to a hold rating in a research note issued to investors on Wednesday, Marketbeat.com reports. They currently have C$4.25 price objective on the stock, down from their prior price objective of C$5.00.
Akita Drilling Stock Performance
Shares of TSE:AKT opened at C$3.50 on Wednesday. The firm has a market capitalization of C$201.24 million, a PE ratio of 50.00 and a beta of -0.15. Akita Drilling has a one year low of C$3.30 and a one year high of C$4.00.
Akita Drilling (TSE:AKT – Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported C($0.12) earnings per share (EPS) for the quarter. The firm had revenue of C$46.37 million for the quarter.
About Akita Drilling
AKITA Drilling Ltd. (AKITA) is engaged in providing contract drilling services, primarily to the oil and gas industry. The Company is involved in other forms of drilling, including potash mining and the development of storage caverns. The Company owns and operates approximately 31 drilling rigs in Canada. The Company manages its business through approximately two geographic regions, which include Canada and the United States. The Company specializes in the construction and retrofit of heavy oil pad drilling rigs associated with Steam Assisted Gravity Drainage (SAGD) operations.
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