Precision Drilling (TSE:PD) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$88.52 and traded as high as C$95.37. Precision Drilling shares last traded at C$91.35, with a volume of 186,946 shares traded.

Analyst Upgrades and Downgrades

PD has been the topic of several research analyst reports. Raymond James reduced their target price on Precision Drilling from C$143.00 to C$142.00 in a research note on Tuesday, October 15th. ATB Capital upped their price objective on shares of Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. BMO Capital Markets dropped their target price on shares of Precision Drilling from C$140.00 to C$130.00 in a research report on Friday, October 4th. Finally, TD Securities reduced their price target on shares of Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$130.50.

Precision Drilling Trading Down 0.6 %

The firm has a market capitalization of C$1.28 billion, a P/E ratio of 5.67, a P/E/G ratio of -3.24 and a beta of 2.76. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37. The stock has a 50 day simple moving average of C$88.65 and a 200-day simple moving average of C$90.59.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its earnings results on Tuesday, October 29th. The company reported C$2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.09 by C$0.22. Precision Drilling had a net margin of 11.71% and a return on equity of 15.01%. During the same quarter last year, the business earned $1.45 earnings per share.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.