Precision Drilling Co. (NYSE:PDS) Receives $42.00 Average Price Target from Analysts

Shares of Precision Drilling Co. (NYSE:PDS) (TSE:PD) have received an average recommendation of “Buy” from the seventeen research firms that are currently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $42.00.

PDS has been the topic of a number of research analyst reports. TD Securities lowered Precision Drilling from a “buy” rating to a “hold” rating in a report on Monday, June 7th. Royal Bank of Canada lifted their target price on Precision Drilling from C$44.00 to C$50.00 and gave the stock an “outperform” rating in a report on Thursday, June 3rd. Raymond James lowered Precision Drilling from a “strong-buy” rating to an “outperform” rating in a report on Monday, June 7th. BMO Capital Markets reaffirmed a “buy” rating and set a $45.00 target price on shares of Precision Drilling in a report on Friday, April 23rd. Finally, Piper Sandler lifted their target price on Precision Drilling from $26.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, April 28th.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Schroder Investment Management Group acquired a new stake in Precision Drilling during the 4th quarter worth about $25,000. BlackRock Inc. acquired a new stake in Precision Drilling during the 1st quarter worth about $90,000. Toronto Dominion Bank boosted its position in Precision Drilling by 10.6% during the 1st quarter. Toronto Dominion Bank now owns 7,019 shares of the oil and gas company’s stock worth $152,000 after acquiring an additional 674 shares during the period. Paloma Partners Management Co acquired a new stake in Precision Drilling during the 4th quarter worth about $176,000. Finally, TD Asset Management Inc. acquired a new stake in Precision Drilling during the 1st quarter worth about $270,000. Hedge funds and other institutional investors own 28.64% of the company’s stock.

Shares of PDS traded up $0.67 during trading hours on Friday, reaching $34.96. 9,627 shares of the company’s stock traded hands, compared to its average volume of 95,328. The company has a market cap of $464.97 million, a price-to-earnings ratio of -3.95 and a beta of 3.16. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.99 and a quick ratio of 1.84. Precision Drilling has a twelve month low of $11.62 and a twelve month high of $44.52. The stock has a fifty day simple moving average of $36.39.

Precision Drilling (NYSE:PDS) (TSE:PD) last released its earnings results on Wednesday, April 21st. The oil and gas company reported ($2.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.23) by ($0.47). The firm had revenue of $236.47 million for the quarter, compared to analyst estimates of $229.39 million. Precision Drilling had a negative return on equity of 10.17% and a negative net margin of 18.92%. The firm’s quarterly revenue was down 37.7% compared to the same quarter last year. On average, research analysts forecast that Precision Drilling will post -8.69 earnings per share for the current fiscal year.

Precision Drilling Company Profile

Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related products and services in North America and the Middle East. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

See Also: What is a Tariff?

Analyst Recommendations for Precision Drilling (NYSE:PDS)

Receive News & Ratings for Precision Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Precision Drilling and related companies with MarketBeat.com's FREE daily email newsletter.