Canadian Imperial Bank of Commerce Issues Positive Forecast for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target hoisted by analysts at Canadian Imperial Bank of Commerce from C$140.00 to C$150.00 in a research note issued on Tuesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price suggests a potential upside of 7.27% from the stock’s previous close.

PD has been the subject of a number of other research reports. BMO Capital Markets upped their price target on Precision Drilling from C$120.00 to C$150.00 in a report on Thursday, February 12th. Royal Bank Of Canada lifted their price objective on shares of Precision Drilling from C$124.00 to C$140.00 and gave the company an “outperform” rating in a research note on Monday. TD Securities boosted their target price on shares of Precision Drilling from C$118.00 to C$123.00 in a research report on Thursday, February 12th. ATB Cormark Capital Markets raised their price target on shares of Precision Drilling from C$135.00 to C$160.00 and gave the company an “outperform” rating in a report on Monday. Finally, Raymond James Financial lifted their price target on shares of Precision Drilling from C$131.00 to C$143.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Precision Drilling currently has an average rating of “Moderate Buy” and an average target price of C$143.71.

Precision Drilling Stock Up 1.8%

Shares of PD traded up C$2.48 during midday trading on Tuesday, reaching C$139.84. 60,306 shares of the company were exchanged, compared to its average volume of 92,978. Precision Drilling has a 1-year low of C$51.38 and a 1-year high of C$142.08. The stock has a 50-day moving average price of C$117.18 and a 200-day moving average price of C$96.76. The company has a current ratio of 1.62, a quick ratio of 1.36 and a debt-to-equity ratio of 49.96. The company has a market cap of C$1.81 billion, a price-to-earnings ratio of 998.86, a P/E/G ratio of -3.24 and a beta of 1.09.

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

Precision Drilling Company Profile

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.