J.P. Morgan Hits Precision Drilling (NYSE:PDS) Hard With Today’s Downgrade

September 17, 2017 - By Stephen Andrade

 J.P. Morgan Hits Precision Drilling (NYSE:PDS) Hard With Today’s Downgrade

Precision Drilling (NYSE:PDS) Receives a Downgrade

The rating of Precision Drilling (NYSE:PDS) was lowered today by research analysts at J.P. Morgan to a Hold rating in an analyst report.

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 upgraded Precision Drilling Corp (USA) (NYSE:PDS) on Tuesday, May 31 to “Market Perform” rating. The rating was upgraded by Wolfe Research on Thursday, December 8 to “Outperform”. On Friday, February 12 the stock rating was maintained by RBC Capital Markets with “Outperform”. The stock of Precision Drilling Corp (USA) (NYSE:PDS) has “Buy” rating given on Thursday, July 6 by Raymond James. The company was maintained on Saturday, August 22 by Evercore. The rating was downgraded by JP Morgan on Tuesday, September 12 to “Neutral”. The firm has “Underperform” rating by Raymond James given on Wednesday, April 20. The rating was upgraded by Jefferies on Tuesday, April 11 to “Buy”. The rating was maintained by Jefferies on Thursday, March 23 with “Hold”. Cowen & Co maintained the shares of PDS in report on Thursday, August 10 with “Buy” rating.

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 expect Precision Drilling Corp (USA) (NYSE:PDS) to report $-0.09 EPS on October, 20.They anticipate $0.04 EPS change or 30.77 % from last quarter’s $-0.13 EPS. After having $-0.09 EPS previously, Precision Drilling Corp (USA)’s analysts see 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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