CIBC Has Lowered Expectations for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective cut by CIBC from C$125.00 to C$115.00 in a report published on Friday morning,BayStreet.CA reports.

Several other research analysts have also commented on PD. TD Securities lowered shares of Precision Drilling from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$120.00 to C$100.00 in a research note on Monday, February 3rd. Raymond James reduced their price objective on shares of Precision Drilling from C$146.00 to C$141.00 in a research note on Friday. Royal Bank of Canada reduced their price objective on shares of Precision Drilling from C$121.00 to C$110.00 in a research note on Friday. Finally, ATB Capital boosted their price objective on shares of Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Precision Drilling currently has an average rating of “Buy” and an average target price of C$119.00.

Precision Drilling Trading Down 2.0 %

TSE PD opened at C$77.47 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98. The firm has a market cap 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. The company has a 50 day moving average price of C$86.94 and a 200 day moving average price of C$89.00. Precision Drilling has a 52 week low of C$76.50 and a 52 week high of C$109.20.

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.