Precision Drilling Corp (USA) (PDS) is Downgraded by Credit Suisse to Underperform

Precision Drilling Corp (USA) (PDS) was Downgraded by Credit Suisse to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. Credit Suisse advised their investors in a research report released on Jun 1, 2016.

Many Wall Street Analysts have commented on Precision Drilling Corp (USA). Precision Drilling Corp (USA) was Upgraded by Raymond James to ” Mkt Perform” on May 31, 2016. Company shares were Reiterated by Cowen on Apr 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 5 from a previous price target of $4.40 .Precision Drilling Corp (USA) was Downgraded by Raymond James to ” Underperform” on Apr 20, 2016.

On the company’s financial health, Precision Drilling Corp (USA) reported $-0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Apr 25, 2016. Analyst had a consensus of $-0.16. The company had revenue of $301.70 million for the quarter, compared to analysts expectations of $281.99 million. The company’s revenue was down -41.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.08 EPS.

Precision Drilling Corp (USA) closed down -0.05 points or -1.11% at $4.44 with 12,14,968 shares getting traded on Friday. Post opening the session at $4.46, the shares hit an intraday low of $4.36 and an intraday high of $4.565 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides contract drilling well servicing and strategic support services to customers. It provides customers with access to a fleet of contract drilling rigs directional drilling services well service and snubbing rigs coiled tubing services camps rental equipment and water treatment units backed by a mix of technical support services. The Company provides the equipment personnel and support services which enables drill complete and workover onshore wells for conventional and unconventional crude oil and natural gas exploration and production. The Company’s service lines include Drilling Rigs (Canada) Drilling Rigs (United States) Drilling Rigs (International) Directional Drilling (Canada and United States) Rig Builds and Repair Turnkey Drilling Services Oilfield Supplies (Canada and United States) and Oilfield Equipment Rentals among others.

Precision Drilling Corp (USA)

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