Precision Drilling Co. (TSE:PD) Receives C$131.00 Consensus Price Target from Analysts

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) have been assigned an average rating of “Buy” from the nine brokerages that are currently covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$131.00.

Several analysts have recently commented on the stock. Raymond James raised their target price on shares of Precision Drilling from C$136.00 to C$143.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 1st. BMO Capital Markets boosted their target price on Precision Drilling from C$135.00 to C$140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. CIBC raised their price target on Precision Drilling from C$130.00 to C$140.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. TD Securities increased their price objective on Precision Drilling from C$115.00 to C$140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada boosted their target price on shares of Precision Drilling from C$122.00 to C$125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st.

Insider Activity

In other Precision Drilling news, Senior Officer Veronica H. Foley sold 5,335 shares of Precision Drilling stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$99.49, for a total transaction of C$530,779.18. In other Precision Drilling news, Senior Officer Veronica H. Foley sold 5,335 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$99.49, for a total transaction of C$530,779.18. Also, Director David Williams sold 3,500 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$100.01, for a total value of C$350,035.00. Company insiders own 2.12% of the company’s stock.

Precision Drilling Price Performance

Shares of TSE:PD opened at C$86.28 on Friday. Precision Drilling has a one year low of C$67.46 and a one year high of C$109.20. The stock has a market capitalization of C$1.23 billion, a price-to-earnings ratio of 5.38, a PEG ratio of -3.24 and a beta of 2.80. The company has a 50-day simple moving average of C$96.06 and a 200-day simple moving average of C$94.35. The company has a debt-to-equity ratio of 56.37, a quick ratio of 1.36 and a current ratio of 1.51.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported C$1.44 EPS for the quarter, beating the consensus estimate of C($0.85) by C$2.29. The firm had revenue of C$429.21 million during the quarter, compared to the consensus estimate of C$423.50 million. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%. On average, analysts predict that Precision Drilling will post 12.818314 EPS for the current year.

Precision Drilling Company Profile

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.