The stock of Pacific Drilling SA (NYSE:PACD) hit a new 52-week low and has $2.63 target or 11.00% below today’s $2.95 share price. The 5 months bearish chart indicates high risk for the $60.86 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $2.63 price target is reached, the company will be worth $6.69 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 168,200 shares traded hands. Pacific Drilling SA (NYSE:PACD) has declined 30.00% since April 1, 2016 and is downtrending. It has underperformed by 31.21% the S&P500.
Analysts await Pacific Drilling SA (NYSE:PACD) to report earnings on November, 14. They expect $-1.42 EPS, down 174.74% or $3.32 from last year’s $1.9 per share. After $-0.05 actual EPS reported by Pacific Drilling SA for the previous quarter, Wall Street now forecasts 2,740.00% negative EPS growth.
Pacific Drilling SA (NYSE:PACD) Ratings Coverage
Out of 13 analysts covering Pacific Drilling (NYSE:PACD), 2 rate it a “Buy”, 2 “Sell”, while 9 “Hold”. This means 15% are positive. Pacific Drilling has been the topic of 16 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Deutsche Bank given on Tuesday, August 9. The rating was downgraded by Johnson Rice on Monday, March 7 to “Hold”. On Monday, August 10 the stock rating was upgraded by Danske to “Hold”. The rating was downgraded by Wells Fargo on Monday, July 18 to “Underperform”. iBERIA Capital Partners downgraded the stock to “Sector Perform” rating in Wednesday, March 2 report. The firm has “Sector Perform” rating by Howard Weil given on Monday, December 14. The company was initiated on Tuesday, October 20 by Citigroup. The rating was downgraded by Global Hunter Securities to “Neutral” on Friday, August 21. The rating was downgraded by Credit Suisse on Thursday, September 3 to “Neutral”. As per Wednesday, April 20, the company rating was downgraded by Barclays Capital.
According to Zacks Investment Research, “Pacific Drilling S.A. provides ultra-deepwater drilling services to the oil and natural gas industry. The Company rents its drilling rigs, related equipment and work crews to drill wells for its customers. Pacific Drilling S.A. is based in Luxembourg.”
More notable recent Pacific Drilling SA (NYSE:PACD) news were published by: Seekingalpha.com which released: “Pacific Drilling SA (PACD) Christian J. Beckett on Q2 2016 Results – Earnings …” on August 08, 2016, also Seekingalpha.com with their article: “Pacific Drilling: Hope Is Gone” published on October 12, 2016, Seekingalpha.com published: “Pacific Drilling: Restructuring Ahead” on September 23, 2016. More interesting news about Pacific Drilling SA (NYSE:PACD) were released by: Seekingalpha.com and their article: “Pacific Drilling Plans For Two More Years Of Uncertainty” published on September 12, 2016 as well as Seekingalpha.com‘s news article titled: “Pacific Drilling: Stay Away” with publication date: May 25, 2016.
PACD Company Profile
Pacific Drilling S.A., incorporated on March 22, 2011, is an international offshore drilling contractor. The Firm provides offshore drilling services to the oil and natural gas industry through the use of high-specification rigs. The Company’s primary business is to contract its high-specification rigs, related equipment and work crews, primarily on a day rate basis, to drill wells for its clients. The Firm is engaged in drillships segment. The Firm is primarily focused on the high-specification segment of the floating rig market. The Firm generally considers high-specification requirements to include rigs in water depths of approximately 7,500 feet or projects requiring advanced operating capabilities, such as hook-loads (>800 tons), accommodations (over 200 beds), mud storage and pumping capacity, and deck-load and space capabilities.
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