Precision Drilling (TSE:PD) Stock Crosses Above 50-Day Moving Average – Here’s What Happened

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$128.50 and traded as high as C$135.10. Precision Drilling shares last traded at C$131.25, with a volume of 87,189 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Raymond James Financial upped their price target on shares of Precision Drilling from C$162.00 to C$165.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Canadian Imperial Bank of Commerce increased their target price on shares of Precision Drilling from C$150.00 to C$160.00 in a report on Friday, May 1st. TD Securities increased their target price on shares of Precision Drilling from C$118.00 to C$123.00 in a report on Thursday, February 12th. TD increased their target price on shares of Precision Drilling from C$127.00 to C$130.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada increased their target price on shares of Precision Drilling from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Precision Drilling presently has an average rating of “Moderate Buy” and an average price target of C$152.25.

Precision Drilling Stock Performance

The company has a debt-to-equity ratio of 45.24, a quick ratio of 1.36 and a current ratio of 1.70. The business’s fifty day simple moving average is C$128.50 and its 200-day simple moving average is C$115.49. The firm has a market capitalization of C$1.70 billion, a PE ratio of -126.20, a price-to-earnings-growth ratio of -3.24 and a beta of 0.42.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings data on Thursday, April 30th. The company reported C$1.34 earnings per share (EPS) for the quarter. Precision Drilling had a negative net margin of 0.82% and a negative return on equity of 0.94%. The business had revenue of C$526.05 million during the quarter.

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.