Precision Drilling (TSE:PD) Sets New 1-Year High – Time to Buy?

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) reached a new 52-week high on Wednesday . The stock traded as high as C$106.53 and last traded at C$105.70, with a volume of 87288 shares traded. The stock had previously closed at C$102.22.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PD. Atb Cap Markets raised shares of Precision Drilling to a “strong-buy” rating in a research report on Thursday, October 30th. Raymond James Financial increased their target price on shares of Precision Drilling from C$132.00 to C$133.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. TD Securities lifted their price target on shares of Precision Drilling from C$77.00 to C$80.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. National Bankshares boosted their price target on Precision Drilling from C$100.00 to C$120.00 and gave the company a “sector perform” rating in a research note on Friday, January 9th. Finally, CIBC raised their price objective on Precision Drilling from C$110.00 to C$120.00 in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$111.43.

Precision Drilling Trading Up 3.7%

The company has a market capitalization of C$1.40 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of -3.24 and a beta of 1.30. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. The business’s 50 day moving average price is C$93.21 and its two-hundred day moving average price is C$82.86.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings data on Wednesday, October 22nd. The company reported C($0.51) earnings per share (EPS) for the quarter. Precision Drilling had a return on equity of 14.96% and a net margin of 12.53%.The company had revenue of C$462.25 million for the quarter.

About Precision Drilling

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.