Precision Drilling Co. (TSE:PD) Receives Average Recommendation of “Buy” from Analysts

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is C$131.00.

A number of analysts have issued reports on PD shares. CIBC boosted their price objective on shares of Precision Drilling from C$130.00 to C$140.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. TD Securities increased their target price on Precision Drilling from C$115.00 to C$140.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. ATB Capital raised their price objective on Precision Drilling from C$120.00 to C$123.00 in a report on Thursday, August 1st. Raymond James lifted their price target on Precision Drilling from C$136.00 to C$143.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada lifted their price target on shares of Precision Drilling from C$122.00 to C$125.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st.

Precision Drilling Stock Down 1.6 %

PD opened at C$95.64 on Monday. The stock has a fifty day moving average of C$96.37 and a 200-day moving average of C$93.19. The company has a market capitalization of C$1.36 billion, a P/E ratio of 5.97, a P/E/G ratio of -3.24 and a beta of 2.81. Precision Drilling has a fifty-two week low of C$67.46 and a fifty-two week high of C$109.20. The company has a debt-to-equity ratio of 56.37, a quick ratio of 1.36 and a current ratio of 1.51.

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.