Precision Drilling (TSE:PD) Given New C$120.00 Price Target at CIBC

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price boosted by stock analysts at CIBC from C$110.00 to C$120.00 in a report issued on Tuesday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 15.50% from the stock’s current price.

Other analysts have also recently issued reports about the stock. TD Securities raised their target price on shares of Precision Drilling from C$77.00 to C$80.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Atb Cap Markets upgraded Precision Drilling to a “strong-buy” rating in a report on Thursday, October 30th. Raymond James Financial raised their price target on shares of Precision Drilling from C$132.00 to C$133.00 and gave the company an “outperform” rating in a report on Friday, October 24th. National Bankshares lifted their price target on shares of Precision Drilling from C$100.00 to C$120.00 and gave the company a “sector perform” rating in a research report on Friday. Finally, Royal Bank Of Canada upped their target price on shares of Precision Drilling from C$110.00 to C$117.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$111.43.

Precision Drilling Price Performance

Precision Drilling stock traded up C$4.97 during mid-day trading on Tuesday, reaching C$103.90. The company had a trading volume of 68,746 shares, compared to its average volume of 75,733. Precision Drilling has a 1 year low of C$51.38 and a 1 year high of C$104.45. The company has a market capitalization of C$1.34 billion, a P/E ratio of 24.92, a P/E/G ratio of -3.24 and a beta of 1.30. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. The stock’s 50-day simple moving average is C$90.73 and its 200-day simple moving average is C$81.32.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its earnings results on Wednesday, October 22nd. The company reported C($0.51) earnings per share (EPS) for the quarter. Precision Drilling had a return on equity of 14.96% and a net margin of 12.53%.The company had revenue of C$462.25 million during the quarter.

Precision Drilling Company Profile

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.