TD Securities Cuts Precision Drilling (TSE:PD) Price Target to C$120.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective trimmed by TD Securities from C$140.00 to C$120.00 in a research report report published on Tuesday, BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. BMO Capital Markets reduced their price objective on shares of Precision Drilling from C$140.00 to C$130.00 in a research note on Friday, October 4th. ATB Capital reduced their price objective on shares of Precision Drilling from C$123.00 to C$113.00 in a research note on Monday, September 23rd. Royal Bank of Canada upped their target price on shares of 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. Raymond James upped 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. Finally, CIBC upped their target price on shares of 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. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of C$127.00.

Precision Drilling Stock Performance

Precision Drilling has a twelve month low of C$67.46 and a twelve month high of C$109.20. The stock has a market capitalization of C$1.23 billion, a PE ratio of 5.39, a P/E/G ratio of -3.24 and a beta of 2.80. 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 firm’s 50 day simple moving average is C$91.49 and its 200 day simple moving average is C$94.60.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings data on Tuesday, July 30th. The company reported C$1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($0.85) by C$2.29. The firm had revenue of C$429.21 million during the quarter, compared to analysts’ expectations of C$423.50 million. Precision Drilling had a net margin of 11.71% and a return on equity of 15.01%. As a group, equities analysts forecast that Precision Drilling will post 11.3888131 earnings per share for the current year.

Insider Buying and Selling at Precision Drilling

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

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.