Revenue Update on Precision Drilling Corp (USA)(NYSE:PDS)

Precision Drilling Corp (USA)(NYSE:PDS) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 21, 2016. Company reported revenue of $126.26M. Analysts estimated a revenue of $172.69M. Earnings per share were $-0.15. Analysts had estimated an EPS of $-0.24.

In a different note, On Jul 11, 2016, Jefferies said it Maintains its rating on Precision Drilling Corp (USA). In the research note, the firm Raises the price-target to $3.00 per share. The shares have been rated ‘Underweight’ by the firm. On Jun 1, 2016, Credit Suisse said it Downgrades its rating on Precision Drilling Corp (USA). The shares have been rated ‘Underperform’ by the firm. On May 31, 2016, Raymond James said it Upgrades its rating on Precision Drilling Corp (USA). The shares have been rated ‘Market Perform’ by the firm. On Apr 25, 2016, Morgan Stanley said it Maintains its rating on Precision Drilling Corp (USA). In the research note, the firm Raises the price-target to $6.00 per share. The shares have been rated ‘Overweight’ by the firm.

Precision Drilling Corp (USA) (PDS) remained unchanged at the close of Wednesday session. Even as the volume increased to 12,84,763 ,the shares failed to make any impression and ended at 0 points or 0.00% at $4.69. The trading session commenced at $4.64 and the stock hit a high of $4.7699 and touched $4.57 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $6.08 and the 52-week low is $2.4301. The company has a market cap of $1,374 M and has approximately 29,29,44,590 outstanding shares.

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.

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