Precision Drilling (TSE:PD) Upgraded at TD

TD upgraded shares of Precision Drilling (TSE:PD) (NYSE:PDS) from a hold rating to a buy rating in a research note issued to investors on Tuesday,BayStreet reports. The brokerage currently has C$150.00 price target on the stock, up from their previous price target of C$116.00.

Several other research analysts also recently weighed in on PD. ATB Cormark Capital Markets dropped their target price on Precision Drilling from C$165.00 to C$160.00 and set an “outperform” rating on the stock in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce decreased their price target on Precision Drilling from C$160.00 to C$155.00 in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$152.25.

Precision Drilling Price Performance

TSE PD opened at C$127.08 on Tuesday. The firm’s fifty day simple moving average is C$121.89 and its two-hundred day simple moving average is C$121.52. The company has a current ratio of 1.46, a quick ratio of 1.36 and a debt-to-equity ratio of 43.54. Precision Drilling has a 12-month low of C$76.86 and a 12-month high of C$143.81. The firm has a market capitalization of C$1.60 billion, a P/E ratio of -53.85, a P/E/G ratio of -3.24 and a beta of 0.59.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings results on Wednesday, July 29th. The company reported C($0.52) earnings per share (EPS) for the quarter. Precision Drilling had a negative return on equity of 2.03% and a negative net margin of 1.71%. The business had revenue of C$452.80 million for the quarter.

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.