Precision Drilling (TSE:PD) Hits New 1-Year High on Analyst Upgrade

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) reached a new 52-week high during mid-day trading on Tuesday after TD Securities raised their price target on the stock from C$80.00 to C$118.00. The company traded as high as C$107.15 and last traded at C$107.03, with a volume of 29518 shares changing hands. The stock had previously closed at C$104.89.

Other analysts have also recently issued reports about the company. National Bankshares upped their target price on Precision Drilling from C$100.00 to C$120.00 and gave the company a “sector perform” rating in a report on Friday, January 9th. Raymond James Financial boosted their price target on shares of Precision Drilling from C$132.00 to C$133.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. ATB Capital set a C$120.00 price objective on shares of Precision Drilling and gave the company an “outperform” rating in a report on Friday, December 19th. CIBC raised their price objective on shares of Precision Drilling from C$110.00 to C$120.00 in a research report on Tuesday, January 13th. Finally, Royal Bank Of Canada lifted their target price on shares of Precision Drilling from C$110.00 to C$117.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$116.86.

Precision Drilling Trading Up 2.0%

The company has a market cap of C$1.41 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of -3.24 and a beta of 1.30. The company’s 50 day simple moving average is C$95.16 and its two-hundred day simple moving average is C$83.87. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings results on Wednesday, October 22nd. The company reported C($0.51) earnings per share (EPS) for the quarter. The company had revenue of C$462.25 million during the quarter. Precision Drilling had a net margin of 12.53% and a return on equity of 14.96%.

Precision Drilling Company Profile

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.