Precision Drilling Stock Alpha and Beta Analysis

PDS Stock  USD 67.29  0.36  0.54%   
This module allows you to check different measures of market premium (i.e., alpha and beta) for all equities such as Precision Drilling. It also helps investors analyze the systematic and unsystematic risks associated with investing in Precision Drilling over a specified time horizon. Remember, high Precision Drilling's alpha is almost always a sign of good performance; however, a high beta will depend on investors' risk tolerance level and may signal increased volatility and potential future overvaluation. Key technical indicators related to Precision Drilling's market risk premium analysis include:
Beta
1.52
Alpha
0.16
Risk
2.24
Sharpe Ratio
0.19
Expected Return
0.44
Please note that although Precision Drilling alpha is a measure of relative return and represented here as a single number, it indicates the percentage above or below your selected benchmark (i.e., NYSE Composite index.) So in this particular case, Precision Drilling did 0.16  better than the index. Remember, a high alpha is always good. Beta, on the other hand, measures the volatility (or risk) of an investment. It is an indication of Precision Drilling stock's relative risk over its benchmark. Precision Drilling has a beta of 1.52  . As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Precision Drilling will likely underperform. Price Book Value Ratio is likely to drop to 0.60 in 2024. Enterprise Value Multiple is likely to drop to 2.99 in 2024.
Alpha is a measure of relative performance on a risk-adjusted basis, while beta measures volatility against the benchmark. The goal is to know if an investor is being compensated for the volatility risk taken. The return on investment might be better than its reference but still not compensate for the assumption of the risk.
  
Check out Precision Drilling Backtesting, Precision Drilling Valuation, Precision Drilling Correlation, Precision Drilling Hype Analysis, Precision Drilling Volatility, Precision Drilling History and analyze Precision Drilling Performance.
For more information on how to buy Precision Stock please use our How to Invest in Precision Drilling guide.

Precision Drilling Market Premiums

Investors always prefer to have the highest possible return on investment, coupled with the lowest possible volatility. Precision Drilling market risk premium is the additional return an investor will receive from holding Precision Drilling long position in a well-diversified portfolio. The market premium is part of the Capital Asset Pricing Model (CAPM), which most analysts and investors use to calculate the acceptable rate of return on investment in Precision Drilling. At the center of the CAPM is the concept of risk and reward, which is usually communicated by investors using alpha and beta measures. Alpha and beta are two of the key measurements used to evaluate Precision Drilling's performance over market.
α0.16   β1.52

Precision Drilling expected buy-and-hold returns

Although buy-and-hold investment strategy may not appeal to all investors, it may be used as a good measure of Precision Drilling's Buy-and-hold return. Our buy-and-hold chart shows how Precision Drilling performed over your current time horizon against a typical interest-earning bank account and a selected benchmark.

Precision Drilling Market Price Analysis

Market price analysis indicators help investors to evaluate how Precision Drilling stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Precision Drilling shares will generate the highest return on investment. By understating and applying Precision Drilling stock market price indicators, traders can identify Precision Drilling position entry and exit signals to maximize returns.

Precision Drilling Return and Market Media

The median price of Precision Drilling for the period between Sat, Dec 30, 2023 and Fri, Mar 29, 2024 is 60.79 with a coefficient of variation of 7.18. The daily time series for the period is distributed with a sample standard deviation of 4.31, arithmetic mean of 59.99, and mean deviation of 3.52. The Stock received a lot of media exposure during the period.
 Price Growth (%)  
       Timeline  
1
Precision Drilling Price Target Lowered to C120.00 at Stifel Nicolaus
01/12/2024
2
Precision Drilling reports 146.7M Q4 profit, revenue edged lower
02/06/2024
3
Equities Analysts Set Expectations for Precision Drilling Co.s Q2 2024 Earnings
02/08/2024
4
Investors Shouldnt Be Too Comfortable With Precision Drillings Earnings
02/13/2024
5
With 56 percent institutional ownership, Precision Drilling Corporation is a favorite amongst the big guns
02/21/2024
6
Franklin Street Properties Corp. Announces Fourth Quarter and Full Year 2023 Results
02/26/2024
7
Precision Drilling Full Year 2023 Earnings EPS Beats Expectations
03/08/2024
8
Precision Drilling The Seagulls Are Missing A Bet - Seeking Alpha
03/14/2024
9
Investors Continue Waiting On Sidelines For Precision Drilling Corporation
03/20/2024
10
PDS Biotech Announces Clinical Strategy Update and ReportsFull Year 2023 Financial Results
03/27/2024

About Precision Drilling Beta and Alpha

For many years both, Alpha and Beta indicators are used by professional money managers as critical performance measurement tools across virtually all financial instruments including Precision or other stocks. Alpha measures the amount that position in Precision Drilling has returned in comparison to a selected market index or another relevant benchmark. In other words, Alpha is the excess return on an investment relative to the performance of your selected benchmark. Beta, on the other hand, measures the relative risk of your investment.
 2023 2024 (projected)
Dividend Yield0.0080390.007637
Price To Sales Ratio0.510.48

Precision Drilling Upcoming Company Events

As portrayed in its financial statements, the presentation of Precision Drilling's financial position is often influenced by management's estimates, judgments, and sometimes even manipulations. In the best case, Precision Drilling's leadership is honest, while the outside auditors are strict and uncompromising. Whatever the case, investors should always follow all of Precision Drilling's public filing events to personally review all filings and be reasonable and skeptical to interpret all of the financial statements of Precision Drilling. Please utilize our Beneish M Score to check the likelihood of Precision Drilling's management manipulating its earnings.
6th of February 2024
Upcoming Quarterly Report
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24th of April 2024
Next Financial Report
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31st of December 2023
Next Fiscal Quarter End
View
6th of February 2024
Next Fiscal Year End
View
30th of September 2023
Last Quarter Report
View
31st of December 2022
Last Financial Announcement
View

Build Portfolio with Precision Drilling

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When determining whether Precision Drilling is a strong investment it is important to analyze Precision Drilling's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Precision Drilling's future performance. For an informed investment choice regarding Precision Stock, refer to the following important reports:
Check out Precision Drilling Backtesting, Precision Drilling Valuation, Precision Drilling Correlation, Precision Drilling Hype Analysis, Precision Drilling Volatility, Precision Drilling History and analyze Precision Drilling Performance.
For more information on how to buy Precision Stock please use our How to Invest in Precision Drilling guide.
Note that the Precision Drilling information on this page should be used as a complementary analysis to other Precision Drilling's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.

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When running Precision Drilling's price analysis, check to measure Precision Drilling's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Precision Drilling is operating at the current time. Most of Precision Drilling's value examination focuses on studying past and present price action to predict the probability of Precision Drilling's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Precision Drilling's price. Additionally, you may evaluate how the addition of Precision Drilling to your portfolios can decrease your overall portfolio volatility.
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Precision Drilling technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.
A focus of Precision Drilling technical analysis is to determine if market prices reflect all relevant information impacting that market. A technical analyst looks at the history of Precision Drilling trading pattern rather than external drivers such as economic, fundamental, or social events. It is believed that price action tends to repeat itself due to investors' collective, patterned behavior. Hence technical analysis focuses on identifiable price trends and conditions. More Info...