Precision Drilling (TSE:PD) Stock Price Expected to Rise, CIBC World Markets Analyst Says

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective increased by stock analysts at CIBC World Markets from C$120.00 to C$140.00 in a research note issued to investors on Friday,BayStreet.CA reports. CIBC World Markets’ price target would suggest a potential upside of 18.41% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Canadian Imperial Bank of Commerce increased their target price on Precision Drilling from C$110.00 to C$120.00 in a research report on Tuesday, January 13th. Raymond James Financial raised their target price on 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. ATB Capital set a C$120.00 price target on Precision Drilling and gave the company an “outperform” rating in a research report on Friday, December 19th. National Bank Financial increased 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, TD Securities lifted their price objective on Precision Drilling from C$118.00 to C$123.00 in a research note on Thursday. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Precision Drilling currently has a consensus rating of “Moderate Buy” and an average target price of C$132.50.

Precision Drilling Price Performance

Shares of Precision Drilling stock traded up C$5.13 on Friday, reaching C$118.23. 125,442 shares of the stock were exchanged, compared to its average volume of 88,602. The firm’s 50 day moving average is C$102.42 and its 200-day moving average is C$87.61. The firm has a market cap of C$1.53 billion, a PE ratio of 28.35, a P/E/G ratio of -3.24 and a beta of 1.43. The company has a debt-to-equity ratio of 51.98, a quick ratio of 1.36 and a current ratio of 1.54. Precision Drilling has a one year low of C$51.38 and a one year high of C$122.65.

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

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.