ATB Cormark Capital Markets Cuts Precision Drilling (TSE:PD) Price Target to C$165.00

Precision Drilling (TSE:PD – Get Free Report) (NYSE:PDS) had its price objective cut by research analysts at ATB Cormark Capital Markets from C$175.00 to C$165.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target would indicate a potential upside of 45.59% from the company’s previous close.

Several other equities analysts have also commented on PD. TD upped their target price on Precision Drilling from C$127.00 to C$130.00 and gave the company a “hold” rating in a report on Friday, May 1st. Canadian Imperial Bank of Commerce raised their price target on Precision Drilling from C$150.00 to C$160.00 in a report on Friday, May 1st. Royal Bank Of Canada boosted their price objective on Precision Drilling from C$140.00 to C$150.00 and gave the company an “outperform” rating in a research report on Tuesday, April 14th. Raymond James Financial upped their price objective on Precision Drilling from C$162.00 to C$165.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Finally, BMO Capital Markets raised their target price on Precision Drilling from C$160.00 to C$165.00 in a research note on Thursday, April 30th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$151.00.

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Precision Drilling Stock Performance

Shares of Precision Drilling stock traded down C$1.05 during trading hours on Friday, reaching C$113.33. The company’s stock had a trading volume of 31,273 shares, compared to its average volume of 92,003. Precision Drilling has a one year low of C$66.52 and a one year high of C$143.81. The company’s 50 day simple moving average is C$123.94 and its 200 day simple moving average is C$119.57. The company has a debt-to-equity ratio of 45.24, a quick ratio of 1.36 and a current ratio of 1.70. The stock has a market cap of C$1.47 billion, a P/E ratio of -108.97, a price-to-earnings-growth ratio of -3.24 and a beta of 0.42.

Precision Drilling (TSE:PD – Get Free Report) (NYSE:PDS) last announced its quarterly earnings data on Thursday, April 30th. The company reported C$1.34 earnings per share for the quarter. The business had revenue of C$526.05 million during the quarter. Precision Drilling had a negative net margin of 0.82% and a negative return on equity of 0.94%.

Precision Drilling Company Profile

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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.

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