ATB Cormark Capital Markets Issues Positive Forecast for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price hoisted by analysts at ATB Cormark Capital Markets from C$135.00 to C$160.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price objective suggests a potential upside of 15.94% from the stock’s current price.

PD has been the topic of several other reports. Raymond James Financial boosted their price target on Precision Drilling from C$131.00 to C$143.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Royal Bank Of Canada lifted their price objective on Precision Drilling from C$124.00 to C$140.00 and gave the stock an “outperform” rating in a report on Monday. National Bank Financial boosted their price objective on Precision Drilling from C$120.00 to C$140.00 and gave the company a “sector perform” rating in a research report on Friday, February 13th. Canadian Imperial Bank of Commerce upped their target price on Precision Drilling from C$120.00 to C$140.00 in a research note on Friday, February 13th. Finally, BMO Capital Markets raised their target price on Precision Drilling from C$120.00 to C$150.00 in a research report on Thursday, February 12th. Three 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, Precision Drilling has an average rating of “Moderate Buy” and an average target price of C$142.29.

Precision Drilling Stock Performance

TSE PD traded up C$2.47 during midday trading on Monday, hitting C$138.00. The company had a trading volume of 45,630 shares, compared to its average volume of 92,995. The firm has a fifty day simple moving average of C$116.42 and a two-hundred day simple moving average of C$96.36. Precision Drilling has a fifty-two week low of C$51.38 and a fifty-two week high of C$138.65. The company has a quick ratio of 1.36, a current ratio of 1.62 and a debt-to-equity ratio of 49.96. The stock has a market cap of C$1.79 billion, a price-to-earnings ratio of 985.71, a P/E/G ratio of -3.24 and a beta of 1.09.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings data on Thursday, February 12th. The company reported C($6.50) EPS for the quarter. Precision Drilling had a net margin of 0.10% and a return on equity of 0.11%. The company had revenue of C$478.51 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.