Precision Drilling (TSE:PD) Price Target Lowered to C$120.00 at TD Securities

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target decreased by analysts at TD Securities from C$140.00 to C$120.00 in a research note issued on Tuesday, BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ target price points to a potential upside of 39.31% from the stock’s previous close.

PD has been the subject of several other reports. ATB Capital lowered their price objective on shares of Precision Drilling from C$123.00 to C$113.00 in a research note on Monday, September 23rd. Royal Bank of Canada boosted their target price on shares of Precision Drilling from C$122.00 to C$125.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. BMO Capital Markets decreased their target price on shares of Precision Drilling from C$140.00 to C$130.00 in a research report on Friday. Raymond James boosted their target price on shares of Precision Drilling from C$136.00 to C$143.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 1st. Finally, CIBC upped their price objective on shares of Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Precision Drilling presently has a consensus rating of “Buy” and a consensus price target of C$127.00.

Precision Drilling Stock Down 3.2 %

TSE PD traded down C$2.86 on Tuesday, hitting C$86.14. The stock had a trading volume of 44,061 shares, compared to its average volume of 84,779. The business’s fifty day moving average price is C$92.41 and its 200 day moving average price is C$94.73. The company has a debt-to-equity ratio of 56.37, a current ratio of 1.51 and a quick ratio of 1.36. Precision Drilling has a 52-week low of C$67.46 and a 52-week high of C$109.20. The stock has a market cap of C$1.22 billion, a price-to-earnings ratio of 5.38, a price-to-earnings-growth ratio of -3.24 and a beta of 2.80.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings data on Tuesday, July 30th. The company reported C$1.44 EPS for the quarter, topping the consensus estimate of C($0.85) by C$2.29. Precision Drilling had a net margin of 11.71% and a return on equity of 15.01%. The business had revenue of C$429.21 million during the quarter, compared to the consensus estimate of C$423.50 million. Equities research analysts anticipate that Precision Drilling will post 11.3888131 earnings per share for the current year.

Insider Transactions at Precision Drilling

In other news, Senior Officer Veronica H. Foley sold 5,335 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$99.49, for a total transaction of C$530,779.18. In related news, Director David Williams sold 3,500 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$100.01, for a total transaction of C$350,035.00. Also, Senior Officer Veronica H. Foley sold 5,335 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$99.49, for a total transaction of C$530,779.18. Corporate insiders own 2.12% of the company’s stock.

Precision Drilling Company Profile

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.