Precision Drilling (TSE:PD) Reaches New 52-Week High Following Analyst Upgrade

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price reached a new 52-week high on Tuesday after TD Securities raised their price target on the stock from C$80.00 to C$118.00. The stock traded as high as C$107.15 and last traded at C$107.03, with a volume of 29518 shares changing hands. The stock had previously closed at C$104.89.

A number of other equities research analysts also recently weighed in on the company. Raymond James Financial raised their price target on Precision Drilling from C$132.00 to C$133.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. National Bankshares increased their price objective on Precision Drilling from C$100.00 to C$120.00 and gave the company a “sector perform” rating in a research report on Friday, January 9th. Royal Bank Of Canada boosted their target price on Precision Drilling from C$110.00 to C$117.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Atb Cap Markets raised Precision Drilling to a “strong-buy” rating in a research note on Thursday, October 30th. Finally, CIBC lifted their price target on shares of Precision Drilling from C$110.00 to C$120.00 in a research note on Tuesday, January 13th. One equities research 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$116.86.

Precision Drilling Price Performance

The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98. The firm’s fifty day moving average price is C$96.16 and its 200-day moving average price is C$84.29. The stock has a market cap of C$1.41 billion, a P/E ratio of 25.59, a PEG ratio of -3.24 and a beta of 1.30.

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

Precision Drilling Company Profile

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.