Royal Bank Of Canada Raises Precision Drilling (TSE:PD) Price Target to C$124.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price lifted by Royal Bank Of Canada from C$119.00 to C$124.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 4.88% from the company’s current price.

Other analysts have also recently issued reports about the company. Raymond James Financial upped their price objective on Precision Drilling from C$132.00 to C$133.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. ATB Capital set a C$120.00 price target on shares of Precision Drilling and gave the company an “outperform” rating in a research note on Friday, December 19th. CIBC World Markets lifted their price objective on shares of Precision Drilling from C$120.00 to C$140.00 in a research note on Friday. BMO Capital Markets boosted their target price on shares of Precision Drilling from C$120.00 to C$150.00 in a report on Thursday. Finally, TD Securities upped their target price on shares of Precision Drilling from C$118.00 to C$123.00 in a research report on Thursday. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$132.50.

Precision Drilling Price Performance

PD stock traded up C$5.13 during mid-day trading on Friday, hitting C$118.23. The company had a trading volume of 125,442 shares, compared to its average volume of 88,602. The company has a 50-day moving average price of C$102.42 and a 200 day moving average price of C$87.61. Precision Drilling has a 12-month low of C$51.38 and a 12-month high of C$122.65. The company has a market capitalization of C$1.53 billion, a price-to-earnings ratio of 28.35, a P/E/G ratio of -3.24 and a beta of 1.43. The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings data on Wednesday, October 22nd. The company reported C($0.51) earnings per share for the quarter. Precision Drilling had a net margin of 12.53% and a return on equity of 14.96%. The firm had revenue of C$462.25 million for the quarter.

Precision Drilling Company Profile

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.