According to The Fly, gMP FirstEnergy analyst Ian Gillies reiterated a Buy rating on Precision Drilling (PDS) on November 28. The company’s shares closed on Friday at $2.30, close to its 52-week low of $2.19.
According to TipRanks.com, Gillies ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.3% and a 32.0% success rate. Gillies covers the Basic Materials sector, focusing on stocks such as Trican Well Service Ltd, Inter Pipeline Ltd, and Gibson Energy Inc.
Currently, the analyst consensus on Precision Drilling is a Moderate Buy with an average price target of $4.53, a 97.0% upside from current levels. In a report issued on November 21, Canaccord Genuity also reiterated a Buy rating on the stock.
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Based on Precision Drilling’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $23.45 million. In comparison, last year the company had a GAAP net loss of $20.97 million.
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Precision Drilling Corp. provides onshore drilling, completion, and production services to the oil and natural gas industry. It operates through the Contract Drilling Services; and Completion and Production Services segments. The Contract Drilling Services segment includes drilling rig, directional drilling, oilfield supply, and manufacturing divisions.
