Precision Drilling (TSE:PD) Sets New 12-Month High – Here’s What Happened

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as C$127.52 and last traded at C$126.43, with a volume of 48514 shares traded. The stock had previously closed at C$121.95.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PD shares. ATB Cormark Capital Markets set a C$120.00 price objective on Precision Drilling and gave the stock an “outperform” rating in a research note on Friday, December 19th. BMO Capital Markets raised their target price on shares of Precision Drilling from C$120.00 to C$150.00 in a report on Thursday, February 12th. Royal Bank Of Canada boosted their price target on shares of Precision Drilling from C$119.00 to C$124.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. TD Securities upped their price target on shares of Precision Drilling from C$118.00 to C$123.00 in a research note on Thursday, February 12th. Finally, Canadian Imperial Bank of Commerce increased their price objective on shares of Precision Drilling from C$120.00 to C$140.00 in a research report on Friday, February 13th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$134.29.

Precision Drilling Stock Up 0.2%

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 company has a 50 day simple moving average of C$111.49 and a two-hundred day simple moving average of C$93.49. The company has a market capitalization of C$1.61 billion, a P/E ratio of 887.21, a PEG ratio of -3.24 and a beta of 1.09.

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

Precision Drilling Company Profile

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.