Royal Bank of Canada Has Lowered Expectations for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price cut by Royal Bank of Canada from C$121.00 to C$110.00 in a report issued on Friday morning,BayStreet.CA reports.

Several other research firms have also issued reports on PD. Raymond James cut their price target on shares of Precision Drilling from C$146.00 to C$141.00 in a research report on Friday. ATB Capital upped their price objective on shares of Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. Finally, TD Securities downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating and decreased their price target for the stock from C$120.00 to C$100.00 in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$119.00.

Precision Drilling Stock Down 2.0 %

Shares of TSE:PD opened at C$77.47 on Friday. The firm has a fifty day moving average of C$86.94 and a 200 day moving average of C$89.00. The company has a debt-to-equity ratio of 51.98, a quick ratio of 1.36 and a current ratio of 1.54. Precision Drilling has a 52-week low of C$76.50 and a 52-week high of C$109.20. The firm has a market capitalization of C$1.10 billion, a PE ratio of 4.56, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76.

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.