Could Precision Drilling Corp (USA) (PDS) Crash Even More? The Stock Just Made Yearly Low

July 17, 2017 - By Clifton Ray

The stock of Precision Drilling Corp (USA) (NYSE:PDS) hit a new 52-week low and has $2.72 target or 7.00 % below today’s $2.93 share price. The 7 months bearish chart indicates high risk for the $831.72 million company. The 1-year low was reported on Jul, 17 by Barchart.com. If the $2.72 price target is reached, the company will be worth $58.22M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

About 2.04 million shares traded. Precision Drilling Corp (USA) (NYSE:PDS) has declined 14.25% since July 17, 2016 and is downtrending. It has underperformed by 30.95% the S&P500.

Analysts await Precision Drilling Corp (USA) (NYSE:PDS) to report earnings on July, 20. They expect $-0.17 earnings per share, down 13.33 % or $0.02 from last year’s $-0.15 per share. After $-0.06 actual earnings per share reported by Precision Drilling Corp (USA) for the previous quarter, Wall Street now forecasts 183.33 % negative EPS growth.

Precision Drilling Corp (USA) (NYSE:PDS) Ratings Coverage

Among 18 analysts covering Precision Drilling Corporation (NYSE:PDS), 11 have Buy rating, 0 Sell and 7 Hold. Therefore 61% are positive. Precision Drilling Corporation had 38 analyst reports since July 24, 2015 according to SRatingsIntel. The company was upgraded on Thursday, July 6 by Raymond James. The stock of Precision Drilling Corp (USA) (NYSE:PDS) earned “Outperform” rating by Wolfe Research on Thursday, December 8. The rating was upgraded by JP Morgan to “Overweight” on Friday, February 3. The firm has “Outperform” rating by Raymond James given on Wednesday, April 26. The firm has “Hold” rating by Jefferies given on Tuesday, September 6. The stock of Precision Drilling Corp (USA) (NYSE:PDS) has “Underperform” rating given on Wednesday, April 20 by Raymond James. The stock of Precision Drilling Corp (USA) (NYSE:PDS) has “Neutral” rating given on Friday, September 4 by Credit Suisse. Evercore maintained Precision Drilling Corp (USA) (NYSE:PDS) rating on Saturday, August 22. Evercore has “Buy” rating and $8.35 target. DA Davidson initiated the shares of PDS in report on Thursday, September 15 with “Buy” rating. The stock has “Neutral” rating by PiperJaffray on Thursday, June 29.

More news for Precision Drilling Corp (USA) (NYSE:PDS) were recently published by: Seekingalpha.com, which released: “Western Energy Services As Measured Against Precision Drilling Corporation” on July 17, 2017. Marketwired.com‘s article titled: “Precision Drilling Corporation 2017 Second Quarter Results Conference Call and …” and published on July 05, 2017 is yet another important article.

Precision Drilling Corporation is an oilfield services company. The company has market cap of $831.72 million. The Firm provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. It currently has negative earnings. The Firm operates through two divisions: Contract Drilling Services, and Completion and Production Services.

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