Precision Drilling (TSE:PD) Stock Breaks Above Fifty Day Moving Average – Time to Sell?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of C$120.13 and traded as high as C$123.16. Precision Drilling shares last traded at C$121.55, with a volume of 42,305 shares changing hands.

Analyst Upgrades and Downgrades

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

Precision Drilling Stock Down 2.0%

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 firm’s 50 day moving average price is C$120.66 and its two-hundred day moving average price is C$121.78. The firm has a market cap of C$1.49 billion, a price-to-earnings ratio of -50.12, a P/E/G ratio of -3.24 and a beta of 0.59.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings data on Wednesday, July 29th. The company reported C($0.52) EPS for the quarter. Precision Drilling had a negative net margin of 1.71% and a negative return on equity of 2.03%. The company had revenue of C$452.80 million for the quarter.

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.