Akita Drilling (TSE:AKT) Announces Earnings Results

Akita Drilling (TSE:AKT) announced its quarterly earnings data on Tuesday. The company reported C($0.12) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$46.37 million for the quarter.

Akita Drilling Trading Up 0.3%

Shares of TSE AKT traded up C$0.01 during mid-day trading on Thursday, reaching C$3.51. 43,876 shares of the company’s stock were exchanged, compared to its average volume of 163,363. The stock has a market cap of C$201.81 million, a PE ratio of 50.14 and a beta of -0.15. Akita Drilling has a 52-week low of C$3.30 and a 52-week high of C$4.00.

Analyst Ratings Changes

Separately, ATB Cormark Capital Markets lowered shares of Akita Drilling from a “moderate buy” rating to a “hold” rating and decreased their target price for the stock from C$5.00 to C$4.25 in a research note on Wednesday. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of C$4.25.

Akita Drilling Company Profile

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.