Royal Bank Of Canada Issues Positive Forecast for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective upped by investment analysts at Royal Bank Of Canada from C$119.00 to C$124.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 4.88% from the stock’s current price.

A number of other equities analysts have also recently commented on PD. BMO Capital Markets raised their target price on Precision Drilling from C$120.00 to C$150.00 in a report on Thursday. ATB Capital set a C$120.00 price objective on Precision Drilling and gave the stock an “outperform” rating in a research note on Friday, December 19th. National Bank Financial lifted their price objective on Precision Drilling from C$120.00 to C$140.00 and gave the company a “sector perform” rating in a research report on Friday. Raymond James Financial increased their target price on shares of Precision Drilling from C$132.00 to C$133.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Finally, CIBC World Markets raised their target price on shares of Precision Drilling from C$120.00 to C$140.00 in a research note on Friday. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$132.50.

Precision Drilling Stock Performance

TSE PD traded up C$5.13 during trading hours on Friday, hitting C$118.23. 125,442 shares of the company’s stock traded hands, compared to its average volume of 88,602. Precision Drilling has a 52 week low of C$51.38 and a 52 week high of C$122.65. The firm has a market capitalization of C$1.53 billion, a P/E ratio of 28.35, a P/E/G ratio of -3.24 and a beta of 1.43. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. The business’s fifty day moving average price is C$102.42 and its two-hundred day moving average price is C$87.61.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported C($0.51) earnings per share for the quarter. Precision Drilling had a return on equity of 14.96% and a net margin of 12.53%.The business had revenue of C$462.25 million for the quarter.

About Precision Drilling

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.