Precision Drilling Corporation (NYSE:PDS) Earning Favorable News Coverage, Study Shows

News articles about Precision Drilling Corporation (NYSE:PDS) (TSE:PD) have been trending positive on Saturday, Accern Sentiment reports. Accern rates the sentiment of media coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Precision Drilling Corporation earned a coverage optimism score of 0.28 on Accern’s scale. Accern also assigned headlines about the oil and gas company an impact score of 47.154251382088 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.

Here are some of the headlines that may have effected Accern Sentiment’s rankings:

A number of analysts have issued reports on the company. UBS AG raised Precision Drilling Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Morgan Stanley lowered Precision Drilling Corporation from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $9.00 to $4.50 in a research note on Wednesday, June 21st. BidaskClub raised Precision Drilling Corporation from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Piper Jaffray Companies lowered Precision Drilling Corporation from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $5.00 to $3.25 in a research note on Thursday, June 29th. Finally, Jefferies Group LLC decreased their price target on Precision Drilling Corporation from $6.50 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Precision Drilling Corporation currently has a consensus rating of “Buy” and a consensus target price of $6.21.

Shares of Precision Drilling Corporation (NYSE:PDS) traded up 3.45% during midday trading on Friday, hitting $2.70. The company had a trading volume of 1,457,755 shares. The company’s 50 day moving average is $3.00 and its 200 day moving average is $4.01. The firm’s market cap is $791.74 million. Precision Drilling Corporation has a one year low of $2.60 and a one year high of $6.25.

Precision Drilling Corporation (NYSE:PDS) (TSE:PD) last released its quarterly earnings results on Monday, July 31st. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.07. Precision Drilling Corporation had a negative return on equity of 7.10% and a negative net margin of 12.38%. The company had revenue of $275.52 million during the quarter, compared to the consensus estimate of $271.33 million. During the same quarter in the prior year, the company posted ($0.20) EPS. The firm’s revenue was up 68.0% on a year-over-year basis. Equities analysts forecast that Precision Drilling Corporation will post ($0.31) earnings per share for the current fiscal year.

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About Precision Drilling Corporation

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.

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