Raymond James Has Lowered Expectations for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price dropped by stock analysts at Raymond James from C$146.00 to C$141.00 in a report issued on Friday,BayStreet.CA reports. Raymond James’ target price would indicate a potential upside of 82.01% from the company’s previous close.

Several other equities research analysts have also recently weighed in on the company. ATB Capital upped their price target on Precision Drilling from C$109.00 to C$123.00 in a research report on Tuesday, December 10th. TD Securities lowered Precision Drilling from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$120.00 to C$100.00 in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Precision Drilling currently has an average rating of “Buy” and a consensus target price of C$119.00.

Precision Drilling Stock Performance

PD stock opened at C$77.47 on Friday. The business has a 50 day moving average of C$86.94 and a 200-day moving average of C$89.00. Precision Drilling has a 12-month low of C$76.50 and a 12-month high of C$109.20. The firm has a market cap of C$1.10 billion, a PE ratio of 4.56, a P/E/G ratio of -3.24 and a beta of 2.76. The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98.

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.