Precision Drilling (TSE:PD) Price Target Raised to C$50.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective upped by TD Securities from C$40.00 to C$50.00 in a report issued on Monday morning, Analyst Price Targets reports. They currently have a na rating on the stock.

A number of other research analysts also recently issued reports on PD. Royal Bank of Canada boosted their price objective on Precision Drilling from C$44.00 to C$50.00 and gave the company an outperform rating in a research note on Thursday, June 3rd. CIBC boosted their price target on Precision Drilling from C$45.00 to C$50.00 and gave the stock an outperform rating in a report on Friday, June 4th. Evercore boosted their price target on Precision Drilling from C$35.00 to C$37.00 in a report on Monday, April 26th. Canaccord Genuity boosted their price target on Precision Drilling from C$38.00 to C$40.00 and gave the stock a buy rating in a report on Friday, May 21st. Finally, Tudor Pickering & Holt reissued a hold rating on shares of Precision Drilling in a report on Wednesday, February 10th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of C$39.29.

Precision Drilling stock opened at C$45.06 on Monday. The company’s 50-day moving average price is C$35.17. The company has a market cap of C$599.48 million and a P/E ratio of -4.06. Precision Drilling has a 52-week low of C$15.20 and a 52-week high of C$48.21. The company has a current ratio of 1.99, a quick ratio of 1.84 and a debt-to-equity ratio of 91.78.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings results on Thursday, April 22nd. The company reported C($2.70) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C($2.83) by C$0.13. The firm had revenue of C$236.47 million for the quarter, compared to the consensus estimate of C$233.25 million. On average, equities research analysts forecast that Precision Drilling will post -5.0100001 EPS for the current fiscal year.

About Precision Drilling

Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related products and services in North America and the Middle East. 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.

See Also: Net Income

Analyst Recommendations for Precision Drilling (TSE:PD)

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