Precision Drilling (TSE:PD) Announces Earnings Results

Precision Drilling (TSE:PD) (NYSE:PDS) posted its earnings results on Wednesday. The company reported C$1.65 earnings per share for the quarter, FiscalAI reports. Precision Drilling had a negative return on equity of 2.03% and a negative net margin of 1.71%. The firm had revenue of C$531.65 million during the quarter.

Precision Drilling Price Performance

Shares of TSE:PD opened at C$147.65 on Thursday. The company has a debt-to-equity ratio of 43.54, a quick ratio of 1.36 and a current ratio of 1.46. The stock has a market cap of C$1.86 billion, a PE ratio of -62.56, a price-to-earnings-growth ratio of -3.24 and a beta of 0.59. Precision Drilling has a one year low of C$78.76 and a one year high of C$148.65. The business’s fifty day moving average price is C$123.29 and its two-hundred day moving average price is C$121.32.

Analysts Set New Price Targets

PD has been the subject of a number of research reports. National Bank Financial raised shares of Precision Drilling from a “hold” rating to an “outperform” rating and boosted their price target for the company from C$150.00 to C$185.00 in a research report on Monday. TD Securities upgraded shares of Precision Drilling from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. ATB Cormark Capital Markets lowered their target price on shares of Precision Drilling from C$165.00 to C$160.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. TD upgraded shares of Precision Drilling from a “hold” rating to a “buy” rating and boosted their price target for the stock from C$116.00 to C$150.00 in a research note on Tuesday, October 20th. Finally, Canadian Imperial Bank of Commerce cut their price objective on Precision Drilling from C$160.00 to C$155.00 in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Precision Drilling currently has an average rating of “Buy” and a consensus target price of C$156.62.

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.