Brokerages Set Precision Drilling Co. (NYSE:PDS) Target Price at $48.00

Precision Drilling Co. (NYSE:PDS) (TSE:PD) has received an average rating of “Buy” from the five research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $48.00.

A number of research analysts have recently commented on the company. StockNews.com downgraded Precision Drilling from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Piper Sandler raised their price target on Precision Drilling from $81.00 to $101.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th.

Institutional Trading of Precision Drilling

Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new stake in Precision Drilling in the fourth quarter worth $88,000. Alberta Investment Management Corp bought a new stake in shares of Precision Drilling during the fourth quarter worth $229,000. MQS Management LLC bought a new stake in shares of Precision Drilling during the third quarter worth $297,000. Aigen Investment Management LP bought a new stake in shares of Precision Drilling during the fourth quarter worth $244,000. Finally, Manatuck Hill Partners LLC bought a new stake in shares of Precision Drilling during the third quarter worth $470,000. 48.86% of the stock is currently owned by institutional investors.

Precision Drilling Stock Down 0.1 %

NYSE PDS opened at $70.34 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.59 and a current ratio of 1.71. The company has a market capitalization of $1.01 billion, a P/E ratio of 6.18 and a beta of 2.01. Precision Drilling has a one year low of $46.29 and a one year high of $77.21. The stock has a 50 day moving average price of $69.85 and a 200-day moving average price of $64.33.

Precision Drilling (NYSE:PDS) (TSE:PD) last posted its earnings results on Thursday, April 25th. The oil and gas company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.12). The firm had revenue of $391.51 million for the quarter, compared to the consensus estimate of $399.44 million. Precision Drilling had a net margin of 12.00% and a return on equity of 10.10%. As a group, equities analysts predict that Precision Drilling will post 6.21 EPS for the current fiscal year.

Precision Drilling Company Profile

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.