Precision Drilling (NYSE:PDS) Now a Sell? J.P. Morgan Has Downgraded The Stock

September 17, 2017 - By reb123z

 Precision Drilling (NYSE:PDS) Now a Sell? J.P. Morgan Has Downgraded The Stock

Precision Drilling (NYSE:PDS) Receives a Downgrade

J.P. Morgan downgraded the rating on Precision Drilling (NYSE:PDS) shares to a Hold. This, change in their rating was just sent to investors and clients in an analyst report earlier today.

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

Among 19 analysts covering Precision Drilling Corporation (NYSE:PDS), 9 have Buy rating, 0 Sell and 10 Hold. Therefore 47% are positive. Precision Drilling Corporation has $8.35 highest and $2 lowest target. $5.81’s average target is 102.44% above currents $2.87 stock price. Precision Drilling Corporation had 45 analyst reports since July 24, 2015 according to SRatingsIntel. Raymond James downgraded the shares of PDS in report on Wednesday, April 20 to “Underperform” rating. The rating was upgraded by Raymond James on Thursday, July 6 to “Buy”. The firm earned “Buy” rating on Saturday, August 22 by Evercore. As per Friday, February 12, the company rating was maintained by RBC Capital Markets. Scotia Capital downgraded the shares of PDS in report on Friday, October 9 to “Sector Perform” rating. Jefferies maintained the stock with “Buy” rating in Wednesday, September 6 report. On Thursday, January 12 the stock rating was downgraded by Raymond James to “Underperform”. On Friday, February 3 the stock rating was upgraded by JP Morgan to “Overweight”. Raymond James upgraded the stock to “Mkt Perform” rating in Friday, February 10 report. The rating was upgraded by Raymond James on Tuesday, May 31 to “Market Perform”.

It closed at $2.87 lastly. It is down 14.25% since September 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 October, 20. They expect $-0.09 earnings per share, up 30.77 % or $0.04 from last year’s $-0.13 per share. After $-0.09 actual earnings per share reported by Precision Drilling Corp (USA) for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

Precision Drilling Corporation is an oilfield services company. The company has market cap of $841.81 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.

Another recent and important Precision Drilling Corp (USA) (NYSE:PDS) news was published by which published an article titled: “Here’s Why Nabors Industries Ltd., Patterson-UTI Energy, Inc., and Precision …” on November 30, 2016.

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