Precision Drilling Co. (TSE:PD) Receives C$131.00 Average Target Price from Brokerages

Precision Drilling Co. (TSE:PD) (NYSE:PDS) has received a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is C$131.00.

Several research analysts recently weighed in on PD shares. Raymond James upped their target price on shares of Precision Drilling from C$136.00 to C$143.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 1st. CIBC upped their price objective on Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. ATB Capital lifted their target price on Precision Drilling from C$120.00 to C$123.00 in a research note on Thursday, August 1st. Royal Bank of Canada upped their price target on Precision Drilling from C$122.00 to C$125.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, TD Securities lifted their price objective on shares of Precision Drilling from C$115.00 to C$140.00 and gave the company a “buy” rating in a research report on Thursday, August 1st.

Insider Activity

In other Precision Drilling news, Director David Williams sold 3,500 shares of Precision Drilling stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$100.01, for a total value of C$350,035.00. In other Precision Drilling news, Director David Williams sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of C$100.01, for a total transaction of C$350,035.00. Also, Senior Officer Veronica H. Foley sold 5,335 shares of Precision Drilling stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of C$99.49, for a total value of C$530,779.18. Corporate insiders own 2.12% of the company’s stock.

Precision Drilling Price Performance

TSE PD opened at C$90.82 on Friday. The company has a debt-to-equity ratio of 56.37, a quick ratio of 1.36 and a current ratio of 1.51. The business’s fifty day moving average is C$95.60 and its 200 day moving average is C$94.58. The company has a market capitalization of C$1.28 billion, a PE ratio of 5.67, a price-to-earnings-growth ratio of -3.24 and a beta of 2.80. Precision Drilling has a fifty-two week low of C$67.46 and a fifty-two week high of C$109.20.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported C$1.44 earnings per share for the quarter, beating analysts’ consensus estimates of C($0.85) by C$2.29. The firm had revenue of C$429.21 million for the quarter, compared to analysts’ expectations of C$423.50 million. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%. Sell-side analysts predict that Precision Drilling will post 12.8202568 earnings per share for the current year.

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.