Precision Drilling (TSE:PD) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target raised by equities research analysts at Raymond James Financial from C$131.00 to C$143.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James Financial’s price target would suggest a potential upside of 20.95% from the stock’s current price.

A number of other analysts also recently weighed in on the company. TD Securities increased their price objective on Precision Drilling from C$118.00 to C$123.00 in a report on Thursday. CIBC World Markets increased their price target on Precision Drilling from C$120.00 to C$140.00 in a research note on Friday. BMO Capital Markets raised their price target on shares of Precision Drilling from C$120.00 to C$150.00 in a report on Thursday. National Bank Financial boosted their price target on shares of Precision Drilling from C$120.00 to C$140.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, ATB Capital set a C$120.00 price objective on shares of Precision Drilling and gave the stock an “outperform” rating in a research report on Friday, December 19th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$132.50.

Precision Drilling Trading Up 4.5%

PD traded up C$5.13 during trading on Friday, reaching C$118.23. 125,442 shares of the company’s stock were exchanged, compared to its average volume of 88,602. Precision Drilling has a one year low of C$51.38 and a one year high of C$122.65. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. The stock has a market capitalization of C$1.53 billion, a PE ratio of 28.35, a price-to-earnings-growth ratio of -3.24 and a beta of 1.43. The firm has a fifty day moving average price of C$102.42 and a two-hundred day moving average price of C$87.61.

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

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.