Brokerages Set Precision Drilling Co. (TSE:PD) Target Price at C$126.55

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) have been assigned a consensus rating of “Buy” from the nine research firms that are currently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is C$126.55.

A number of analysts have recently issued reports on the company. Stifel Nicolaus boosted their price objective on Precision Drilling from C$115.00 to C$125.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Raymond James boosted their price target on shares of Precision Drilling from C$132.00 to C$136.00 and gave the company a “strong-buy” rating in a report on Friday, April 26th. CIBC increased their price objective on shares of Precision Drilling from C$110.00 to C$130.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Finally, ATB Capital decreased their target price on shares of Precision Drilling from C$126.00 to C$120.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th.

Precision Drilling Stock Performance

TSE PD opened at C$95.67 on Friday. The company’s fifty day moving average is C$95.75 and its two-hundred day moving average is C$87.74. Precision Drilling has a 52-week low of C$61.81 and a 52-week high of C$104.90. The company has a debt-to-equity ratio of 62.02, a current ratio of 1.71 and a quick ratio of 1.36. The firm has a market capitalization of C$1.39 billion, a price-to-earnings ratio of 5.80, a P/E/G ratio of -3.24 and a beta of 2.90.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its earnings results on Thursday, April 25th. The company reported C$2.53 earnings per share for the quarter, missing analysts’ consensus estimates of C$2.73 by C($0.20). Precision Drilling had a return on equity of 15.46% and a net margin of 12.06%. The firm had revenue of C$527.79 million for the quarter, compared to analyst estimates of C$539.50 million. Equities research analysts forecast that Precision Drilling will post 9.2679426 EPS for the current year.

About Precision Drilling

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.