Precision Drilling (TSE:PD) Sets New 1-Year High – Time to Buy?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) shares reached a new 52-week high on Monday . The stock traded as high as C$129.39 and last traded at C$129.39, with a volume of 23971 shares traded. The stock had previously closed at C$126.87.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. National Bank Financial boosted their price target on shares of Precision Drilling from C$120.00 to C$140.00 and gave the company a “sector perform” rating in a research report on Friday, February 13th. ATB Cormark Capital Markets set a C$120.00 price target on Precision Drilling and gave the stock an “outperform” rating in a research report on Friday, December 19th. Royal Bank Of Canada raised their price target on Precision Drilling from C$119.00 to C$124.00 and gave the company an “outperform” rating in a report on Friday, February 13th. BMO Capital Markets increased their target price on Precision Drilling from C$120.00 to C$150.00 in a report on Thursday, February 12th. Finally, TD Securities lifted their price target on Precision Drilling from C$118.00 to C$123.00 in a report on Thursday, February 12th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$134.29.

Precision Drilling Stock Up 1.8%

The firm has a 50 day simple moving average of C$114.30 and a two-hundred day simple moving average of C$95.21. The stock has a market cap of C$1.67 billion, a price-to-earnings ratio of 924.00, a price-to-earnings-growth ratio of -3.24 and a beta of 1.09. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.62 and a quick ratio of 1.36.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings data on Thursday, February 12th. The company reported C($6.50) earnings per share (EPS) for the quarter. Precision Drilling had a net margin of 0.10% and a return on equity of 0.11%. The firm had revenue of C$478.51 million for the quarter.

Precision Drilling Company Profile

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.