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

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective hoisted by research analysts at BMO Capital Markets from C$130.00 to C$135.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. BMO Capital Markets’ price objective would suggest a potential upside of 41.49% from the stock’s current price.

PD has been the topic of several other research reports. ATB Capital cut their price objective on Precision Drilling from C$126.00 to C$120.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Raymond James raised their price objective on Precision Drilling from C$132.00 to C$136.00 and gave the stock a “strong-buy” rating in a research note on Friday, April 26th. Stifel Nicolaus lifted their price target on Precision Drilling from C$115.00 to C$125.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Finally, CIBC lifted their price target on Precision Drilling from C$110.00 to C$130.00 and gave the company an “outperform” rating in a research report on Monday, April 22nd. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Precision Drilling presently has a consensus rating of “Buy” and an average target price of C$127.00.

Precision Drilling Stock Performance

Shares of Precision Drilling stock traded down C$0.26 during trading hours on Wednesday, reaching C$95.41. 34,655 shares of the stock traded hands, compared to its average volume of 83,011. The company has a 50 day moving average price of C$95.75 and a 200 day moving average price of C$87.74. The firm has a market capitalization of C$1.38 billion, a price-to-earnings ratio of 5.78, a P/E/G ratio of -3.24 and a beta of 2.90. Precision Drilling has a one year low of C$61.81 and a one year high of C$104.90. The company has a quick ratio of 1.36, a current ratio of 1.71 and a debt-to-equity ratio of 62.02.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings data on Thursday, April 25th. The company reported C$2.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.73 by C($0.20). The company had revenue of C$527.79 million for the quarter, compared to the consensus estimate of C$539.50 million. Precision Drilling had a net margin of 12.06% and a return on equity of 15.46%. On average, equities research analysts expect that Precision Drilling will post 9.2679426 earnings per share for the current fiscal 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.