CIBC Has Lowered Expectations for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective reduced by CIBC from C$125.00 to C$115.00 in a report released on Friday morning,BayStreet.CA reports.

Several other equities analysts also recently weighed in on PD. Royal Bank of Canada cut their target price on Precision Drilling from C$121.00 to C$110.00 in a research report on Friday. Raymond James reduced their target price on shares of Precision Drilling from C$146.00 to C$141.00 in a research note on Friday. ATB Capital lifted their price target on shares of Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. Finally, TD Securities lowered shares of Precision Drilling from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$120.00 to C$100.00 in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Precision Drilling presently has a consensus rating of “Buy” and an average price target of C$119.00.

Precision Drilling Stock Down 2.0 %

Shares of TSE:PD opened at C$77.47 on Friday. The company has a 50-day moving average price of C$86.94 and a 200 day moving average price of C$89.07. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. Precision Drilling has a 12 month low of C$76.50 and a 12 month high of C$109.20. The company has a market cap of C$1.10 billion, a price-to-earnings ratio of 4.56, a PEG ratio of -3.24 and a beta of 2.76.

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.