BMO Capital Markets Increases Precision Drilling (TSE:PD) Price Target to C$135.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target hoisted by investment analysts at BMO Capital Markets from C$130.00 to C$135.00 in a note issued to investors on Wednesday, BayStreet.CA reports. BMO Capital Markets’ price target suggests a potential upside of 39.68% from the company’s previous close.

PD has been the topic of several other reports. Stifel Nicolaus boosted their price target on Precision Drilling from C$115.00 to C$125.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. ATB Capital decreased their price objective on Precision Drilling from C$126.00 to C$120.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Raymond James boosted their price objective on 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. Finally, CIBC boosted their price objective on Precision Drilling from C$110.00 to C$130.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$127.00.

Precision Drilling Price Performance

Shares of PD opened at C$96.65 on Wednesday. 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 quick ratio of 1.36 and a current ratio of 1.71. The business’s 50 day moving average price is C$95.85 and its two-hundred day moving average price is C$87.85. The firm has a market cap of C$1.40 billion, a PE ratio of 5.86, a price-to-earnings-growth ratio of -3.24 and a beta of 2.90.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings results on Thursday, April 25th. The company reported C$2.53 earnings per share (EPS) for the quarter, missing the consensus estimate of C$2.73 by C($0.20). Precision Drilling had a net margin of 12.06% and a return on equity of 15.46%. The business had revenue of C$527.79 million during the quarter, compared to analyst estimates of C$539.50 million. On average, equities analysts anticipate 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.