Precision Drilling (TSE:PD) Price Target Raised to C$175.00 at ATB Cormark Capital Markets

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price hoisted by equities research analysts at ATB Cormark Capital Markets from C$165.00 to C$175.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective points to a potential upside of 35.19% from the company’s previous close.

PD has been the topic of several other research reports. Royal Bank Of Canada raised their target price on Precision Drilling from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 14th. BMO Capital Markets raised their target price on Precision Drilling from C$160.00 to C$165.00 in a research report on Thursday. Canadian Imperial Bank of Commerce raised their target price on Precision Drilling from C$150.00 to C$160.00 in a research report on Friday. TD Securities raised their target price on Precision Drilling from C$118.00 to C$123.00 in a research report on Thursday, February 12th. Finally, National Bank Financial raised their target price on Precision Drilling from C$140.00 to C$150.00 and gave the stock a “sector perform” rating in a research report on Friday. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$152.25.

Precision Drilling Stock Up 2.2%

Shares of PD traded up C$2.75 during midday trading on Friday, hitting C$129.45. The company had a trading volume of 77,339 shares, compared to its average volume of 96,644. The company’s 50-day simple moving average is C$127.45 and its 200-day simple moving average is C$106.26. The company has a debt-to-equity ratio of 49.96, a quick ratio of 1.36 and a current ratio of 1.62. The firm has a market capitalization of C$1.68 billion, a P/E ratio of 924.64, a P/E/G ratio of -3.24 and a beta of 0.59. Precision Drilling has a 1 year low of C$54.73 and a 1 year high of C$143.81.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its earnings results on Thursday, April 30th. The company reported C$1.34 earnings per share for the quarter. Precision Drilling had a return on equity of 0.11% and a net margin of 0.10%.The business had revenue of C$526.05 million for the quarter.

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.