BMO Capital Markets Boosts Precision Drilling (TSE:PD) Price Target to C$135.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target lifted by equities researchers at BMO Capital Markets from C$130.00 to C$135.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. BMO Capital Markets’ price target indicates a potential upside of 41.49% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. Raymond James upped their price target on shares of Precision Drilling from C$132.00 to C$136.00 and gave the stock a “strong-buy” rating in a research report on Friday, April 26th. ATB Capital cut their price target on shares of Precision Drilling from C$126.00 to C$120.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Stifel Nicolaus increased their target price on Precision Drilling from C$115.00 to C$125.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, CIBC increased their target price on Precision Drilling from C$110.00 to C$130.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Precision Drilling currently has an average rating of “Buy” and a consensus price target of C$127.00.

Precision Drilling Price Performance

Shares of PD traded down C$0.26 during trading hours on Wednesday, hitting C$95.41. The stock had a trading volume of 34,655 shares, compared to its average volume of 83,011. The company’s fifty day moving average is C$95.75 and its two-hundred day moving average is C$87.74. The company has a debt-to-equity ratio of 62.02, a current ratio of 1.71 and a quick ratio of 1.36. Precision Drilling has a 52 week low of C$61.81 and a 52 week high of C$104.90. The stock has a market capitalization of C$1.38 billion, a price-to-earnings ratio of 5.78, a P/E/G ratio of -3.24 and a beta of 2.90.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings results on Thursday, April 25th. The company reported C$2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.73 by C($0.20). The company had revenue of C$527.79 million for the quarter, compared to analyst estimates of C$539.50 million. Precision Drilling had a return on equity of 15.46% and a net margin of 12.06%. On average, analysts anticipate that Precision Drilling will post 9.2679426 EPS for the current year.

About Precision Drilling

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.