Precision Drilling (TSE:PD) Price Target Lowered to C$116.00 at TD

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price lowered by research analysts at TD from C$124.00 to C$116.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD’s target price indicates a potential upside of 8.86% from the stock’s current price.

Several other equities analysts have also commented on the stock. ATB Cormark Capital Markets dropped their price target on shares of Precision Drilling from C$175.00 to C$165.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Canadian Imperial Bank of Commerce dropped their price target on Precision Drilling from C$160.00 to C$155.00 in a research note on Thursday. Raymond James Financial raised their price objective on Precision Drilling from C$162.00 to C$165.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. National Bank Financial lifted their price objective on Precision Drilling from C$140.00 to C$150.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Finally, BMO Capital Markets increased their target price on shares of Precision Drilling from C$160.00 to C$165.00 in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$148.00.

Precision Drilling Trading Up 3.6%

PD traded up C$3.66 during midday trading on Thursday, hitting C$106.56. The company’s stock had a trading volume of 64,852 shares, compared to its average volume of 90,711. Precision Drilling has a 52-week low of C$72.87 and a 52-week high of C$143.81. The firm has a 50-day moving average price of C$120.11 and a two-hundred day moving average price of C$121.37. The company has a current ratio of 1.70, a quick ratio of 1.36 and a debt-to-equity ratio of 45.24. The firm has a market cap of C$1.38 billion, a P/E ratio of -102.46, a PEG ratio of -3.24 and a beta of 0.42.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings data on Wednesday, July 29th. The company reported C($0.52) earnings per share for the quarter. Precision Drilling had a negative return on equity of 0.94% and a negative net margin of 0.82%.The company had revenue of C$452.80 million for the quarter.

About Precision Drilling

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.