Brokerages Set Precision Drilling Co. (TSE:PD) Target Price at C$124.00

Precision Drilling Co. (TSE:PD) (NYSE:PDS) has been assigned an average rating of “Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$124.91.

Several analysts recently issued reports on the company. ATB Capital lifted their target price on Precision Drilling from C$125.00 to C$126.00 in a research note on Monday, April 8th. BMO Capital Markets lifted their target price on Precision Drilling from C$125.00 to C$130.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Piper Sandler Companies decreased their target price on Precision Drilling from C$107.00 to C$100.00 and set an “overweight” rating on the stock in a research note on Monday, January 8th. Raymond James decreased their target price on Precision Drilling from C$137.00 to C$132.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, February 7th. Finally, CIBC lifted their target price on Precision Drilling from C$100.00 to C$110.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th.

Precision Drilling Trading Down 1.3 %

Shares of TSE:PD opened at C$92.83 on Tuesday. The stock has a market capitalization of C$1.34 billion, a price-to-earnings ratio of 4.75, a PEG ratio of -3.24 and a beta of 2.92. The company has a debt-to-equity ratio of 62.97, a quick ratio of 1.36 and a current ratio of 1.40. The stock’s 50-day simple moving average is C$88.91 and its two-hundred day simple moving average is C$81.80. Precision Drilling has a 52-week low of C$56.42 and a 52-week high of C$104.90.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings data on Tuesday, February 6th. The company reported C$4.70 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.82 by C$1.88. Precision Drilling had a return on equity of 20.61% and a net margin of 14.93%. The firm had revenue of C$506.87 million for the quarter, compared to analysts’ expectations of C$476.00 million. Analysts expect that Precision Drilling will post 8.6166667 EPS for the current year.

Insider Activity at Precision Drilling

In related news, Senior Officer Veronica H. Foley sold 7,878 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of C$62.16, for a total transaction of C$489,696.48. In other news, Senior Officer Veronica H. Foley sold 7,878 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of C$62.16, for a total transaction of C$489,696.48. Also, Director Carey Thomas Ford sold 7,976 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total value of C$496,346.48. Insiders sold a total of 21,373 shares of company stock worth $1,329,227 in the last quarter. 1.32% of the stock is owned by company insiders.

Precision Drilling Company Profile

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.