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

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s stock price reached a new 52-week high on Monday after ATB Cormark Capital Markets raised their price target on the stock from C$135.00 to C$160.00. ATB Cormark Capital Markets currently has an outperform rating on the stock. Precision Drilling traded as high as C$138.99 and last traded at C$137.50, with a volume of 54932 shares changing hands. The stock had previously closed at C$135.53.

Several other research analysts have also commented on the stock. TD Securities upped their price objective on shares of Precision Drilling from C$118.00 to C$123.00 in a report on Thursday, February 12th. National Bank Financial boosted their price target on shares of Precision Drilling from C$120.00 to C$140.00 and gave the company a “sector perform” rating in a research report on Friday, February 13th. Canadian Imperial Bank of Commerce increased their price target on shares of Precision Drilling from C$120.00 to C$140.00 in a research note on Friday, February 13th. Raymond James Financial raised their price objective on shares of Precision Drilling from C$131.00 to C$143.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Finally, Royal Bank Of Canada lifted their price objective on Precision Drilling from C$124.00 to C$140.00 and gave the company an “outperform” rating in a research report on Monday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Precision Drilling has an average rating of “Moderate Buy” and an average price target of C$142.29.

Precision Drilling Stock Performance

The company has a current ratio of 1.62, a quick ratio of 1.36 and a debt-to-equity ratio of 49.96. The company’s 50 day moving average is C$117.18 and its 200-day moving average is C$96.76. The company has a market capitalization of C$1.78 billion, a P/E ratio of 981.14, a price-to-earnings-growth ratio of -3.24 and a beta of 1.09.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings data on Thursday, February 12th. The company reported C($6.50) EPS for the quarter. The business had revenue of C$478.51 million for the quarter. Precision Drilling had a return on equity of 0.11% and a net margin of 0.10%.

About Precision Drilling

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.