Brokerages Set Precision Drilling Co. (TSE:PD) Target Price at C$148.00

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) have earned an average rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is C$148.00.

PD has been the topic of several recent analyst reports. ATB Cormark Capital Markets dropped their price target on shares of Precision Drilling from C$165.00 to C$160.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce reduced their price objective on shares of Precision Drilling from C$160.00 to C$155.00 in a research report on Thursday, July 30th. BMO Capital Markets upped their target price on shares of Precision Drilling from C$160.00 to C$165.00 in a report on Thursday, April 30th. Raymond James Financial increased their target price on shares of Precision Drilling from C$162.00 to C$165.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, National Bank Financial lifted their price target on shares of Precision Drilling from C$140.00 to C$150.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st.

Precision Drilling Stock Up 2.6%

Shares of TSE PD opened at C$126.10 on Friday. The business has a 50-day moving average of C$114.66 and a two-hundred day moving average of C$122.44. The company has a market capitalization of C$1.62 billion, a price-to-earnings ratio of -53.43, a price-to-earnings-growth ratio of -3.24 and a beta of 0.34. Precision Drilling has a 1 year low of C$74.51 and a 1 year high of C$143.81. The company has a debt-to-equity ratio of 43.54, a current ratio of 1.46 and a quick ratio of 1.36.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings data on Wednesday, July 29th. The company reported C($0.52) EPS for the quarter. Precision Drilling had a negative net margin of 1.71% and a negative return on equity of 2.03%. The business had revenue of C$452.80 million during 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.