J.P. Morgan Decides to Downgrade Precision Drilling (NYSE:PDS). Will Other Analysts Follow?

September 17, 2017 - By Michael Collier

 J.P. Morgan Decides to Downgrade Precision Drilling (NYSE:PDS). Will Other Analysts Follow?

Precision Drilling (NYSE:PDS) Receives a Downgrade

Precision Drilling (NYSE:PDS) shares were downgraded by J.P. Morgan to a Hold rating in a report revealed to investors on Tuesday, 12 September.

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. The rating was maintained by Morgan Stanley with “Overweight” on Tuesday, April 19. Cowen & Co maintained the stock with “Outperform” rating in Tuesday, February 16 report. The firm earned “Mkt Perform” rating on Friday, February 10 by Raymond James. Piper Jaffray maintained it with “Hold” rating and $3.6000 target in Thursday, August 3 report. The firm has “Neutral” rating by Credit Suisse given on Wednesday, January 4. As per Friday, September 4, the company rating was maintained by Credit Suisse. The firm has “Buy” rating given on Wednesday, September 6 by Jefferies. The rating was downgraded by Simmons & Co on Monday, October 26 to “Neutral”. The rating was downgraded by Credit Suisse to “Underperform” on Wednesday, June 1. The rating was downgraded by Raymond James to “Market Perform” on Tuesday, February 2.

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 Fool.com 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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