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

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) have been given an average recommendation of “Buy” by the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$126.90.

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of Precision Drilling from C$122.00 to C$125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. BMO Capital Markets cut their price target on Precision Drilling from C$140.00 to C$130.00 in a report on Friday, October 4th. CIBC raised their price target on shares of Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. 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. Finally, Raymond James reduced their price target on shares of Precision Drilling from C$143.00 to C$142.00 in a research report on Tuesday, October 15th.

Insider Buying and Selling

In other Precision Drilling news, Senior Officer Veronica H. Foley sold 5,335 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of C$99.49, for a total transaction of C$530,779.18. In other Precision Drilling news, Director David Williams sold 3,500 shares of Precision Drilling stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$100.01, for a total value of C$350,035.00. Also, Senior Officer Veronica H. Foley sold 5,335 shares of the firm’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. 2.12% of the stock is currently owned by corporate insiders.

Precision Drilling Stock Performance

TSE PD opened at C$82.86 on Friday. The business has a fifty day moving average of C$87.80 and a 200-day moving average of C$93.58. The company has a quick ratio of 1.36, a current ratio of 1.51 and a debt-to-equity ratio of 56.37. The stock has a market cap of C$1.17 billion, a price-to-earnings ratio of 5.17, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. Precision Drilling has a fifty-two week low of C$67.46 and a fifty-two week high of C$109.20.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$1.44 EPS for the quarter, topping analysts’ consensus estimates of C($0.85) by C$2.29. The company had revenue of C$429.21 million for the quarter, compared to analysts’ expectations of C$423.50 million. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%.

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.