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

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target increased by analysts at Royal Bank Of Canada from C$124.00 to C$140.00 in a research note issued on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 1.45% from the stock’s previous close.

PD has been the topic of a number of other research reports. ATB Cormark Capital Markets set a C$120.00 price objective on Precision Drilling and gave the stock an “outperform” rating in a report on Friday, December 19th. National Bank Financial boosted their target price on shares of Precision Drilling from C$120.00 to C$140.00 and gave the stock a “sector perform” rating in a research report on Friday, February 13th. TD Securities upped their price target on shares of Precision Drilling from C$118.00 to C$123.00 in a research note on Thursday, February 12th. Canadian Imperial Bank of Commerce increased their price target on shares of Precision Drilling from C$120.00 to C$140.00 in a report on Friday, February 13th. Finally, BMO Capital Markets raised their price objective on shares of Precision Drilling from C$120.00 to C$150.00 in a research note on Thursday, February 12th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Precision Drilling presently has an average rating of “Moderate Buy” and an average price target of C$142.29.

Precision Drilling Stock Performance

TSE:PD traded up C$2.47 during mid-day trading on Monday, reaching C$138.00. The stock had a trading volume of 45,630 shares, compared to its average volume of 92,995. Precision Drilling has a twelve month low of C$51.38 and a twelve month high of C$138.65. The business has a 50 day simple moving average of C$116.42 and a 200 day simple moving average of C$96.36. The firm has a market capitalization of C$1.79 billion, a price-to-earnings ratio of 985.71, a PEG ratio of -3.24 and a beta of 1.09. The company has a debt-to-equity ratio of 49.96, a quick ratio of 1.36 and a current ratio of 1.62.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its earnings results on Thursday, February 12th. The company reported C($6.50) earnings per share (EPS) for the quarter. The business had revenue of C$478.51 million for the quarter. Precision Drilling had a return on equity of 0.11% and a net margin of 0.10%.

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.