Precision Drilling (TSE:PD) Given New C$175.00 Price Target at Raymond James Financial

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective raised by investment analysts at Raymond James Financial from C$170.00 to C$175.00 in a research report issued on Thursday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. Raymond James Financial‘s price objective would indicate a potential upside of 17.45% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. Canadian Imperial Bank of Commerce lowered their price objective on shares of Precision Drilling from C$160.00 to C$155.00 in a research report on Thursday, July 30th. TD Securities raised shares of Precision Drilling from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. National Bank Financial upgraded shares of Precision Drilling from a “hold” rating to an “outperform” rating and boosted their target price for the company from C$150.00 to C$185.00 in a research note on Monday. TD increased 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. Finally, ATB Cormark Capital Markets raised their price target on Precision Drilling from C$170.00 to C$190.00 and gave the stock an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$165.62.

Precision Drilling Stock Performance

PD traded up C$1.35 during midday trading on Thursday, hitting C$149.00. 175,030 shares of the company traded hands, compared to its average volume of 86,247. The company has a quick ratio of 1.36, a current ratio of 1.46 and a debt-to-equity ratio of 43.54. The firm has a market capitalization of C$1.88 billion, a PE ratio of -63.14, a price-to-earnings-growth ratio of -3.24 and a beta of 0.59. The company’s 50-day moving average is C$123.29 and its 200 day moving average is C$121.32. Precision Drilling has a 52 week low of C$78.76 and a 52 week high of C$157.05.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings results on Wednesday, October 28th. The company reported C$1.65 EPS for the quarter. Precision Drilling had a negative net margin of 1.71% and a negative return on equity of 2.03%. The firm had revenue of C$531.65 million during the quarter.

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.