Precision Drilling Co. (TSE:PD) Receives C$131.00 Consensus Target Price from Brokerages

Precision Drilling Co. (TSE:PD) (NYSE:PDS) has received an average recommendation of “Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is C$131.00.

A number of equities analysts have recently commented on PD shares. Raymond James raised their target price on shares of 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. TD Securities raised their price objective 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 upped their target price on Precision Drilling from C$120.00 to C$123.00 in a report on Thursday, August 1st. Royal Bank of Canada raised their price target on Precision Drilling from C$122.00 to C$125.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Finally, CIBC upped their price objective on shares of Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st.

Insider Transactions at Precision Drilling

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

Precision Drilling Trading Up 2.4 %

Shares of TSE PD opened at C$90.82 on Friday. The business’s 50 day moving average price is C$95.60 and its 200-day moving average price is C$94.58. 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. The company has a market cap of C$1.28 billion, a price-to-earnings ratio of 5.67, a PEG ratio of -3.24 and a beta of 2.80.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its earnings results on Tuesday, July 30th. The company reported C$1.44 earnings per share for the quarter, topping analysts’ consensus estimates of C($0.85) by C$2.29. The business had revenue of C$429.21 million for the quarter, compared to analyst estimates of C$423.50 million. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%. On average, sell-side analysts expect that Precision Drilling will post 12.8202568 earnings per share for the current 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.