Precision Drill (PD) Gets a Hold Rating from Canaccord Genuity


Wall Street analyst has provided a review for the Materials company today, but retained the same rating on the stock. Precision Drill (TSX: PD) received a Hold rating from Canaccord Genuity’s analyst John Bereznicki, with a C$4.75 price target.

According to TipRanks.com, Bereznicki is a 4-star analyst with an average return of 4.9% and a 46.3% success rate. Bereznicki covers the Basic Materials sector, focusing on stocks such as Trican Well Service Ltd, Precision Drilling, and Trinidad Drilling.

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The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Precision Drill with a C$5.13 average price target.

Based on Precision Drill’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of C$47.22 million. In comparison, last year the company had a GAAP net loss of C$26.29 million.

Precision Drilling Corp. provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas industry. It operates through the following business segments: Contract Drilling Services and Completion & Production Services.

The company’s shares closed on Tuesday at C$3.95.

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