Precision Drilling (TSE:PD – Get Free Report) (NYSE:PDS) was upgraded by investment analysts at TD from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, BayStreet reports. The firm currently has a C$150.00 price target on the stock, up from their prior price target of C$116.00. TD’s target price suggests a potential upside of 18.04% from the stock’s current price.
Several other research firms also recently weighed in on PD. ATB Cormark Capital Markets cut their price target on Precision Drilling from C$165.00 to C$160.00 and set an “outperform” rating for the company in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce lowered their price objective on Precision Drilling from C$160.00 to C$155.00 in a research note on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$152.25.
Read Our Latest Stock Report on PD
Precision Drilling Stock Performance
TSE PD traded up C$4.33 on Tuesday, hitting C$127.08. 115,878 shares of the stock traded hands, compared to its average volume of 84,419. The business’s fifty day moving average is C$121.14 and its two-hundred day moving average is C$121.57. Precision Drilling has a 12 month low of C$75.94 and a 12 month high of C$143.81. The firm has a market capitalization of C$1.60 billion, a price-to-earnings ratio of -53.85, a PEG ratio of -3.24 and a beta of 0.59. The company has a debt-to-equity ratio of 43.54, a quick ratio of 1.36 and a current ratio of 1.46.
Precision Drilling (TSE:PD – Get Free Report) (NYSE:PDS) last released its earnings results on Wednesday, July 29th. The company reported C($0.52) earnings per share (EPS) for the quarter. The firm had revenue of C$452.80 million during the quarter. Precision Drilling had a negative return on equity of 2.03% and a negative net margin of 1.71%.
About Precision Drilling
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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