Precision Drilling (TSE:PD) Stock Price Passes Above 50 Day Moving Average – Time to Sell?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$115.13 and traded as high as C$129.15. Precision Drilling shares last traded at C$128.33, with a volume of 46,889 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PD. TD dropped their target price on shares of Precision Drilling from C$124.00 to C$116.00 and set a “hold” rating on the stock in a report on Thursday, July 30th. ATB Cormark Capital Markets cut their price objective on shares of Precision Drilling from C$165.00 to C$160.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Finally, Canadian Imperial Bank of Commerce reduced their target price on Precision Drilling from C$160.00 to C$155.00 in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$148.00.

Precision Drilling Trading Down 2.0%

The company has a quick ratio of 1.36, a current ratio of 1.46 and a debt-to-equity ratio of 43.54. The company’s 50-day moving average is C$115.51 and its 200 day moving average is C$123.00. The company has a market cap of C$1.64 billion, a price-to-earnings ratio of -54.00, a price-to-earnings-growth ratio of -3.24 and a beta of 0.34.

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

Precision Drilling Company Profile

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.