TD Cuts Precision Drilling (TSE:PD) Price Target to C$124.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target decreased by TD from C$130.00 to C$124.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD’s price target indicates a potential upside of 4.45% from the company’s current price.

A number of other research firms have also recently commented on PD. Royal Bank Of Canada raised their target price on shares of Precision Drilling from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 14th. BMO Capital Markets increased their price objective on shares of Precision Drilling from C$160.00 to C$165.00 in a research note on Thursday, April 30th. Canadian Imperial Bank of Commerce raised their price objective on shares of Precision Drilling from C$150.00 to C$160.00 in a research report on Friday, May 1st. Raymond James Financial lifted their target price on shares of Precision Drilling from C$162.00 to C$165.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Finally, National Bank Financial upped their target price on shares of Precision Drilling from C$140.00 to C$150.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$150.25.

Precision Drilling Stock Performance

Shares of TSE PD traded up C$5.02 during trading on Monday, hitting C$118.72. The company had a trading volume of 38,836 shares, compared to its average volume of 91,846. The stock has a 50 day simple moving average of C$123.41 and a 200 day simple moving average of C$119.72. The company has a debt-to-equity ratio of 45.24, a quick ratio of 1.36 and a current ratio of 1.70. Precision Drilling has a 12 month low of C$66.52 and a 12 month high of C$143.81. The firm has a market capitalization of C$1.54 billion, a P/E ratio of -114.15, a price-to-earnings-growth ratio of -3.24 and a beta of 0.42.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings data on Thursday, April 30th. The company reported C$1.34 earnings per share for the quarter. The firm had revenue of C$526.05 million for the quarter. Precision Drilling had a negative return on equity of 0.94% and a negative net margin of 0.82%.

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.