Royal Bank Of Canada Forecasts Strong Price Appreciation for Precision Drilling (TSE:PD) Stock

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective increased by Royal Bank Of Canada from C$124.00 to C$140.00 in a report issued on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 1.45% from the company’s current price.

PD has been the topic of a number of other reports. TD Securities lifted their target price on shares of Precision Drilling from C$118.00 to C$123.00 in a report on Thursday, February 12th. Canadian Imperial Bank of Commerce increased their price target on shares of Precision Drilling from C$120.00 to C$140.00 in a research note on Friday, February 13th. Raymond James Financial raised their price objective on shares of Precision Drilling from C$131.00 to C$143.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. BMO Capital Markets upped their target price on shares of Precision Drilling from C$120.00 to C$150.00 in a report on Thursday, February 12th. Finally, ATB Cormark Capital Markets set a C$120.00 target price on shares of Precision Drilling and gave the stock an “outperform” rating in a research note on Friday, December 19th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$142.29.

Precision Drilling Stock Performance

Shares of TSE PD traded up C$2.47 during trading hours on Monday, reaching C$138.00. The stock had a trading volume of 45,630 shares, compared to its average volume of 92,995. The firm has a market cap of C$1.79 billion, a price-to-earnings ratio of 985.71, a PEG ratio of -3.24 and a beta of 1.09. The company has a current ratio of 1.62, a quick ratio of 1.36 and a debt-to-equity ratio of 49.96. Precision Drilling has a fifty-two week low of C$51.38 and a fifty-two week high of C$138.65. The firm has a 50-day moving average of C$116.42 and a 200-day moving average of C$96.36.

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