Precision Drilling (TSE:PD) Releases Earnings Results

Precision Drilling (TSE:PD) (NYSE:PDS) issued its earnings results on Wednesday. The company reported C$1.65 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$531.65 million during the quarter. Precision Drilling had a negative return on equity of 0.32% and a negative net margin of 0.26%.

Precision Drilling Stock Up 1.9%

Shares of Precision Drilling stock opened at C$150.50 on Friday. Precision Drilling has a 1 year low of C$78.76 and a 1 year high of C$157.05. The firm has a market cap of C$1.89 billion, a price-to-earnings ratio of -63.77, a PEG ratio of -3.24 and a beta of 0.59. The company has a 50-day moving average of C$123.86 and a 200 day moving average of C$121.58. The company has a debt-to-equity ratio of 43.53, a current ratio of 1.48 and a quick ratio of 1.36.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. ATB Cormark Capital Markets raised their price target on shares of Precision Drilling from C$170.00 to C$190.00 and gave the stock an “outperform” rating in a report on Thursday. TD boosted their price target on Precision Drilling from C$150.00 to C$182.00 and gave the company a “buy” rating in a report on Thursday. TD Securities raised Precision Drilling from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. Raymond James Financial upped their price target on Precision Drilling from C$170.00 to C$175.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Canadian Imperial Bank of Commerce dropped their price objective on Precision Drilling from C$160.00 to C$155.00 in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of C$165.62.

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.