Royal Bank of Canada Issues Pessimistic Forecast for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price dropped by research analysts at Royal Bank of Canada from C$121.00 to C$110.00 in a report issued on Friday,BayStreet.CA reports. Royal Bank of Canada’s price objective suggests a potential upside of 41.99% from the stock’s previous close.

Several other brokerages also recently issued reports on PD. Raymond James decreased their target price on Precision Drilling from C$146.00 to C$141.00 in a research note on Friday. ATB Capital lifted their price objective on Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. Finally, TD Securities downgraded Precision Drilling from a “buy” rating to a “hold” rating and reduced their price objective for the stock from C$120.00 to C$100.00 in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Precision Drilling has a consensus rating of “Buy” and an average price target of C$119.00.

Precision Drilling Stock Down 2.0 %

Shares of PD opened at C$77.47 on Friday. The business’s 50 day moving average is C$86.94 and its 200 day moving average is C$89.00. The company has a market capitalization of C$1.10 billion, a PE ratio of 4.56, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. Precision Drilling has a 12-month low of C$76.50 and a 12-month high of C$109.20. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98.

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.