TD Securities Issues Positive Forecast for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target increased by equities research analysts at TD Securities from C$118.00 to C$123.00 in a report issued on Thursday,BayStreet.CA reports. TD Securities’ target price indicates a potential upside of 10.56% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Canadian Imperial Bank of Commerce upped their target price on shares of Precision Drilling from C$110.00 to C$120.00 in a research note on Tuesday, January 13th. Raymond James Financial boosted their target price on Precision Drilling from C$132.00 to C$133.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. BMO Capital Markets increased their price target on Precision Drilling from C$120.00 to C$150.00 in a research report on Thursday. Royal Bank Of Canada raised their target price on shares of Precision Drilling from C$110.00 to C$117.00 and gave the company an “outperform” rating in a report on Friday, October 24th. Finally, ATB Capital set a C$120.00 price target on shares of Precision Drilling and gave the stock an “outperform” rating in a report on Friday, December 19th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$126.14.

Precision Drilling Stock Performance

TSE PD traded down C$11.26 on Thursday, hitting C$111.25. 161,255 shares of the company’s stock traded hands, compared to its average volume of 83,655. The firm has a market capitalization of C$1.44 billion, a PE ratio of 26.68, a P/E/G ratio of -3.24 and a beta of 1.43. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. Precision Drilling has a 1-year low of C$51.38 and a 1-year high of C$122.65. The firm’s 50-day moving average price is C$102.03 and its two-hundred day moving average price is C$87.43.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its earnings results on Wednesday, October 22nd. The company reported C($0.51) earnings per share (EPS) for the quarter. The firm had revenue of C$462.25 million for the quarter. Precision Drilling had a return on equity of 14.96% and a net margin of 12.53%.

About Precision Drilling

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.