Precision Drilling (TSE:PD) Hits New 1-Year High – Here’s What Happened

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$129.39 and last traded at C$129.39, with a volume of 23971 shares traded. The stock had previously closed at C$126.87.

Analysts Set New Price Targets

PD has been the subject of several recent research reports. National Bank Financial raised their target price on shares of Precision Drilling from C$120.00 to C$140.00 and gave the company a “sector perform” rating in a report on Friday, February 13th. Raymond James Financial increased their price target on shares of Precision Drilling from C$131.00 to C$143.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Royal Bank Of Canada lifted their price objective on Precision Drilling from C$119.00 to C$124.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. ATB Cormark Capital Markets set a C$120.00 target price on shares of Precision Drilling and gave the company an “outperform” rating in a research note on Friday, December 19th. Finally, BMO Capital Markets raised their price target on shares of Precision Drilling from C$120.00 to C$150.00 in a research note on Thursday, February 12th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Precision Drilling currently has an average rating of “Moderate Buy” and a consensus price target of C$134.29.

Precision Drilling Price Performance

The stock has a market capitalization of C$1.66 billion, a price-to-earnings ratio of 914.14, a price-to-earnings-growth ratio of -3.24 and a beta of 1.09. The company has a 50 day moving average of C$113.13 and a 200 day moving average of C$94.51. The company has a quick ratio of 1.36, a current ratio of 1.62 and a debt-to-equity ratio of 49.96.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings results on Thursday, February 12th. The company reported C($6.50) earnings per share (EPS) for the quarter. The business had revenue of C$478.51 million during the quarter. Precision Drilling had a return on equity of 0.11% and a net margin of 0.10%.

Precision Drilling Company Profile

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.