Precision Drilling (TSE:PD) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Precision Drilling Co. (TSE:PD) (NYSE:PDS) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PD. Royal Bank Of Canada boosted their price target on 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 reduced their price objective on Precision Drilling from C$175.00 to C$165.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. National Bank Financial boosted their target price on Precision Drilling from C$140.00 to C$150.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. BMO Capital Markets increased their target price on shares of Precision Drilling from C$160.00 to C$165.00 in a research report on Thursday, April 30th. Finally, Canadian Imperial Bank of Commerce raised their price target on shares of Precision Drilling from C$150.00 to C$160.00 in a report on Friday, May 1st. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$150.25.

Precision Drilling Trading Down 7.0%

The stock has a market capitalization of C$1.33 billion, a PE ratio of -98.94, a PEG ratio of -3.24 and a beta of 0.42. The company has a current ratio of 1.70, a quick ratio of 1.36 and a debt-to-equity ratio of 45.24. The business’s 50-day moving average is C$120.11 and its two-hundred day moving average is C$121.37.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings data on Wednesday, July 29th. The company reported C($0.52) EPS for the quarter. The company had revenue of C$452.80 million during the quarter. Precision Drilling had a negative net margin of 0.82% and a negative return on equity of 0.94%.

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.