Alert: Negative Investment/Fundamental Signals (12/8/23)-Precision Drilling Corp (NYSE: PDS)


Recent exceptional negative changes in investment behavior have affected Precision Drilling Corp (NYSE: PDS): the stock’s recent price decline challenged its longer term uptrend, its longer term price trend turned down, and negative upside/downside volume developed.

Precision Drilling Corp (NYSE: PDS) suffers from notable negative changes in fundamentals: the consensus estimate for December, 2023 decreased significantly, and the consensus estimate for December, 2024 decreased significantly.

In light of these highly negative signals we are reviewing our current Overall Rating of A. We would view the shares with caution pending completion of this review in the next several days.


Current PriceTarget Research Rating

With future capital returns forecasted to be above the cost of capital, PDS is expected to continue to be an important Value Builder.

Precision Drilling has a current Value Trend Rating of A (Highest Rating). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Precision Drilling has a good Appreciation Score of 75 and a very high Power Rating of 86, producing the Highest Value Trend Rating.

Recent Price Action

On 12/8/23, Precision Drilling Corp (NYSE: PDS) stock rose modestly by 0.5%, closing at $52.85. However, trading volume in this advance was unusually low at 66% of normal. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -8.6% during the last week.

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