Precision Drilling (TSE:PD) Given New C$120.00 Price Target at ATB Capital

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target lowered by ATB Capital from C$126.00 to C$120.00 in a research note published on Friday, BayStreet.CA reports. The firm currently has an outperform rating on the stock.

PD has been the subject of several other research reports. CIBC lifted their target price on shares of Precision Drilling from C$110.00 to C$130.00 and gave the company an outperform rating in a report on Monday, April 22nd. Raymond James lifted their price objective on Precision Drilling from C$132.00 to C$136.00 and gave the company a strong-buy rating in a research note on Friday, April 26th. Finally, Stifel Nicolaus increased their target price on Precision Drilling from C$115.00 to C$125.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of C$126.55.

Precision Drilling Stock Performance

Shares of Precision Drilling stock opened at C$96.20 on Friday. The firm has a market cap of C$1.39 billion, a PE ratio of 5.83, a price-to-earnings-growth ratio of -3.24 and a beta of 2.90. The company has a quick ratio of 1.36, a current ratio of 1.71 and a debt-to-equity ratio of 62.02. Precision Drilling has a 52 week low of C$61.52 and a 52 week high of C$104.90. The business’s fifty day simple moving average is C$95.59 and its 200-day simple moving average is C$87.16.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its earnings results on Thursday, April 25th. The company reported C$2.53 EPS for the quarter, missing analysts’ consensus estimates of C$2.73 by C($0.20). Precision Drilling had a net margin of 12.06% and a return on equity of 15.46%. The company had revenue of C$527.79 million during the quarter, compared to analyst estimates of C$539.50 million. Equities analysts forecast that Precision Drilling will post 9.2679426 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 through Contract Drilling Services and Completion and Production Services segments.