Precision Drilling (TSE:PD – Get Free Report) (NYSE:PDS) had its price target increased by stock analysts at Stifel Nicolaus from C$130.00 to C$135.00 in a research report issued on Friday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 41.11% from the company’s previous close.
A number of other brokerages have also commented on PD. Royal Bank of Canada raised their target price on shares of Precision Drilling from C$100.00 to C$118.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. CIBC raised their price objective on Precision Drilling from C$95.00 to C$110.00 and gave the stock an “outperform” rating in a report on Monday, July 31st. Atlantic Securities lowered their target price on Precision Drilling from C$143.00 to C$140.00 in a report on Wednesday, July 5th. BMO Capital Markets raised their price target on Precision Drilling from C$100.00 to C$110.00 in a research note on Friday, July 28th. Finally, Raymond James lowered their price target on shares of Precision Drilling from C$135.00 to C$110.00 and set a “strong-buy” rating for the company in a research report on Friday, June 2nd. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$117.64.
Precision Drilling Stock Performance
Precision Drilling (TSE:PD – Get Free Report) (NYSE:PDS) last posted its quarterly earnings results on Thursday, July 27th. The company reported C$1.63 EPS for the quarter, topping analysts’ consensus estimates of C$1.31 by C$0.32. Precision Drilling had a net margin of 8.15% and a return on equity of 12.41%. The firm had revenue of C$425.62 million for the quarter, compared to analysts’ expectations of C$404.07 million. As a group, analysts expect that Precision Drilling will post 15.7986348 earnings per share for the current 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 in two segments, Contract Drilling Services and Completion and Production Services.
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