Precision Drilling Co. (TSE:PD) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Precision Drilling received a “Moderate Buy” consensus rating from six analysts, split evenly between three buy and three hold recommendations. The average 12-month price target is C$148.00.
• Several firms recently lowered their price targets: CIBC cut its target to C$155, ATB Cormark to C$160, and TD to C$116 while maintaining a hold rating.
• The stock opened at C$124.27, with a market capitalization of about C$1.60 billion. In its latest quarter, Precision Drilling reported a loss of C$0.52 per share on C$452.8 million in revenue.

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS has earned a consensus rating of "Moderate Buy" from the six research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a 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$148.00.

PD has been the topic of several recent research reports. Canadian Imperial Bank of Commerce dropped their price objective on shares of Precision Drilling from C$160.00 to C$155.00 in a report on Thursday, July 30th. ATB Cormark Capital Markets reduced their target price on shares of Precision Drilling from C$165.00 to C$160.00 and set an "outperform" rating for the company in a report on Thursday, July 30th. Finally, TD decreased their target price on shares of Precision Drilling from C$124.00 to C$116.00 and set a "hold" rating for the company in a research report on Thursday, July 30th.

Precision Drilling Trading Down 0.4%

Precision Drilling stock opened at C$124.27 on Thursday. The stock has a 50-day moving average price of C$117.04 and a 200 day moving average price of C$123.16. The company has a market capitalization of C$1.60 billion, a price-to-earnings ratio of -52.66, a price-to-earnings-growth ratio of -3.24 and a beta of 0.45. Precision Drilling has a 52 week low of C$74.51 and a 52 week high of C$143.81. The company has a quick ratio of 1.36, a current ratio of 1.46 and a debt-to-equity ratio of 43.54.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS last issued its quarterly earnings results on Wednesday, July 29th. The company reported C($0.52) earnings per share for the quarter. Precision Drilling had a negative return on equity of 2.03% and a negative net margin of 1.71%.The business had revenue of C$452.80 million during the quarter.

Precision Drilling Company Profile

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.

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