Precision Drilling (TSE:PD) Given New C$113.00 Price Target at ATB Capital

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price decreased by equities researchers at ATB Capital from C$123.00 to C$113.00 in a report released on Monday, BayStreet.CA reports. ATB Capital’s price target would suggest a potential upside of 28.19% from the company’s current price.

Several other equities research analysts have also recently weighed in on PD. TD Securities increased their price objective on Precision Drilling from C$115.00 to C$140.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada raised their target price on Precision Drilling from C$122.00 to C$125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. BMO Capital Markets raised their target price on Precision Drilling from C$135.00 to C$140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. CIBC raised their target price on Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Raymond James raised their target price on Precision Drilling from C$136.00 to C$143.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 1st. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$130.00.

Precision Drilling Stock Up 0.2 %

PD opened at C$88.15 on Monday. Precision Drilling has a 1-year low of C$67.46 and a 1-year high of C$109.20. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37. The stock has a market capitalization of C$1.24 billion, a price-to-earnings ratio of 5.50, a P/E/G ratio of -3.24 and a beta of 2.80. The business has a 50 day moving average of C$94.79 and a 200-day moving average of C$94.69.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported C$1.44 earnings per share for the quarter, beating the consensus estimate of C($0.85) by C$2.29. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%. The company had revenue of C$429.21 million during the quarter, compared to analysts’ expectations of C$423.50 million. As a group, sell-side analysts anticipate that Precision Drilling will post 12.8202568 earnings per share for the current year.

Insiders Place Their Bets

In other Precision Drilling news, Senior Officer Veronica H. Foley sold 5,335 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$99.49, for a total transaction of C$530,779.18. In other news, Senior Officer Veronica H. Foley sold 5,335 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$99.49, for a total value of C$530,779.18. Also, Director David Williams sold 3,500 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$100.01, for a total value of C$350,035.00. Corporate insiders own 2.12% of the company’s stock.

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.