Precision Drilling Co. (TSE:PD) Stock Has Consensus Price Target of C$165.62 According to Analysts

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) have earned an average recommendation of “Buy” from the six brokerages that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$165.62.

PD has been the subject of several analyst reports. Canadian Imperial Bank of Commerce decreased their price objective on Precision Drilling from C$160.00 to C$155.00 in a report on Thursday, July 30th. TD upped their price objective on shares of Precision Drilling from C$150.00 to C$182.00 and gave the stock a “buy” rating in a research report on Thursday. TD Securities raised shares of Precision Drilling from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 20th. Raymond James Financial boosted their price objective on Precision Drilling from C$170.00 to C$175.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, ATB Cormark Capital Markets raised their target price on Precision Drilling from C$170.00 to C$190.00 and gave the company an “outperform” rating in a research report on Thursday.

Precision Drilling Trading Up 1.9%

TSE PD opened at C$150.50 on Friday. Precision Drilling has a one year low of C$78.76 and a one year high of C$157.05. The company has a debt-to-equity ratio of 43.53, a quick ratio of 1.36 and a current ratio of 1.48. The company has a market capitalization of C$1.89 billion, a price-to-earnings ratio of -63.77, a price-to-earnings-growth ratio of -3.24 and a beta of 0.59. The company’s 50-day simple moving average is C$123.86 and its two-hundred day simple moving average is C$121.58.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its earnings results on Wednesday, October 28th. The company reported C$1.65 earnings per share (EPS) for the quarter. The company had revenue of C$531.65 million for the quarter. Precision Drilling had a negative return on equity of 0.32% and a negative net margin of 0.26%.

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.