Precision Drilling Co. (TSE:PD) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts give Precision Drilling a “Moderate Buy” consensus: three rate the stock a buy and three recommend holding it, with an average 1-year price target of C$148.00.
• Several brokerages recently cut their targets, including CIBC to C$155, ATB Cormark to C$160, and TD to C$116; TD maintained a hold rating while ATB Cormark kept an outperform rating.
• Precision Drilling reported a quarterly loss of C$0.52 per share on C$452.8 million in revenue, alongside a negative net margin of 1.71% and negative return on equity of 2.03%.

Shares of Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS have earned a consensus rating of "Moderate Buy" from the six analysts that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is C$148.00.

A number of research analysts have recently commented on the stock. Canadian Imperial Bank of Commerce dropped their target price 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 price objective on Precision Drilling from C$165.00 to C$160.00 and set an "outperform" rating on the stock in a research report on Thursday, July 30th. Finally, TD dropped their target price on 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 Stock Performance

Shares of Precision Drilling stock opened at C$120.68 on Monday. The company has a current ratio of 1.46, a quick ratio of 1.36 and a debt-to-equity ratio of 43.54. The company has a market cap of C$1.52 billion, a PE ratio of -51.14, a price-to-earnings-growth ratio of -3.24 and a beta of 0.45. The company has a 50 day moving average of C$118.38 and a 200-day moving average of C$122.81. Precision Drilling has a 1-year low of C$74.51 and a 1-year high of C$143.81.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.