Precision Drilling (TSE:PD) Given New C$150.00 Price Target at Canadian Imperial Bank of Commerce

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective hoisted by Canadian Imperial Bank of Commerce from C$140.00 to C$150.00 in a research note published on Tuesday,BayStreet.CA reports.

Several other equities research analysts also recently commented on PD. Royal Bank Of Canada upped their target price on shares of Precision Drilling from C$124.00 to C$140.00 and gave the company an “outperform” rating in a research note on Monday. ATB Cormark Capital Markets boosted their price target on shares of Precision Drilling from C$135.00 to C$160.00 and gave the company an “outperform” rating in a report on Monday. BMO Capital Markets upped their price objective on shares of Precision Drilling from C$120.00 to C$150.00 in a research report on Thursday, February 12th. National Bank Financial raised their price objective on Precision Drilling from C$120.00 to C$140.00 and gave the stock a “sector perform” rating in a research note on Friday, February 13th. Finally, TD Securities lifted their target price on Precision Drilling from C$118.00 to C$123.00 in a report on Thursday, February 12th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$143.71.

Precision Drilling Price Performance

Precision Drilling stock opened at C$140.31 on Tuesday. 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 firm has a market capitalization of C$1.82 billion, a P/E ratio of 1,002.21, a PEG ratio of -3.24 and a beta of 1.09. The business has a 50-day moving average of C$117.95 and a 200-day moving average of C$97.20. Precision Drilling has a 1 year low of C$51.38 and a 1 year high of C$142.08.

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

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.