Brokerages Set Precision Drilling Corp (PD) Target Price at $5.51

Shares of Precision Drilling Corp (TSE:PD) (NYSE:PDS) have earned a consensus rating of “Buy” from the ten brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is C$5.46.

PD has been the subject of several research reports. BMO Capital Markets reiterated an “outperform” rating and issued a C$4.00 price target on shares of Precision Drilling in a research report on Tuesday, December 11th. Cormark reissued a “buy” rating and issued a C$6.75 price objective on shares of Precision Drilling in a research note on Friday, November 16th. Canaccord Genuity raised shares of Precision Drilling from a “hold” rating to a “buy” rating in a research note on Friday, November 9th. Citigroup raised shares of Precision Drilling from a “neutral” rating to a “buy” rating and boosted their price objective for the company from C$3.50 to C$5.00 in a research note on Monday, November 19th. Finally, TD Securities dropped their price objective on shares of Precision Drilling from C$7.50 to C$6.00 and set a “buy” rating on the stock in a research note on Thursday, November 29th.

Shares of TSE:PD opened at C$2.95 on Tuesday. The company has a debt-to-equity ratio of 98.19, a quick ratio of 1.73 and a current ratio of 1.85. Precision Drilling has a twelve month low of C$2.25 and a twelve month high of C$5.33.



Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings data on Thursday, October 25th. The company reported C($0.10) earnings per share for the quarter, missing the consensus estimate of C($0.08) by C($0.02). The firm had revenue of C$382.46 million for the quarter, compared to analyst estimates of C$395.40 million. As a group, sell-side analysts expect that Precision Drilling will post -0.140000000945946 EPS for the current year.

In related news, Director Brian James Gibson acquired 40,000 shares of the business’s stock in a transaction dated Tuesday, December 11th. The shares were acquired at an average cost of C$2.64 per share, for a total transaction of C$105,600.00. Also, Director Wane Jacob Stickland acquired 10,000 shares of the business’s stock in a transaction dated Friday, December 14th. The shares were bought at an average price of C$2.60 per share, for a total transaction of C$26,000.00. Over the last ninety days, insiders have bought 82,000 shares of company stock worth $219,700.

Precision Drilling Company Profile

Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

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Analyst Recommendations for Precision Drilling (TSE:PD)

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