Precision Drilling Co. (TSE:PD) Given Average Rating of “Buy” by Brokerages

Precision Drilling Co. (TSE:PD) (NYSE:PDS) has been assigned an average recommendation of “Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is C$126.00.

A number of brokerages have weighed in on PD. TD Securities reduced their price target on shares of Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. Royal Bank of Canada lifted 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 report on Thursday, August 1st. Raymond James cut their price objective on Precision Drilling from C$143.00 to C$142.00 in a research report on Tuesday, October 15th. BMO Capital Markets decreased their target price on Precision Drilling from C$140.00 to C$130.00 in a research report on Friday, October 4th. Finally, ATB Capital reduced their price target on Precision Drilling from C$123.00 to C$113.00 in a research report on Monday, September 23rd.

Precision Drilling Stock Performance

TSE PD opened at C$86.71 on Wednesday. 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 1-year low of C$67.46 and a 1-year high of C$109.20. The firm has a market capitalization of C$1.22 billion, a P/E ratio of 5.41, a P/E/G ratio of -3.24 and a beta of 2.76. The business’s 50-day simple moving average is C$86.23 and its 200-day simple moving average is C$92.72.

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.