Precision Drilling (TSE:PD) Hits New 52-Week High After Analyst Upgrade

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price hit a new 52-week high during mid-day trading on Tuesday after CIBC raised their price target on the stock from C$110.00 to C$120.00. The stock traded as high as C$104.13 and last traded at C$103.70, with a volume of 67946 shares. The stock had previously closed at C$98.93.

Several other analysts also recently commented on PD. National Bankshares increased their target price on Precision Drilling from C$100.00 to C$120.00 and gave the company a “sector perform” rating in a research note on Friday. Raymond James Financial upped their price target on Precision Drilling from C$132.00 to C$133.00 and gave the company an “outperform” rating in a report on Friday, October 24th. ATB Capital set a C$120.00 price objective on Precision Drilling and gave the company an “outperform” rating in a research report on Friday, December 19th. TD Securities boosted their target price on Precision Drilling from C$77.00 to C$80.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Finally, Atb Cap Markets upgraded shares of Precision Drilling to a “strong-buy” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$111.43.

Precision Drilling Price Performance

The firm has a 50-day moving average of C$90.73 and a 200-day moving average of C$81.32. 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 has a market cap of C$1.34 billion, a PE ratio of 24.92, a PEG ratio of -3.24 and a beta of 1.30.

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

About Precision Drilling

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.