Brokerages Set Precision Drilling Co. (TSE:PD) Target Price at C$98.33

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS has been given an average rating of "Moderate Buy" by the six analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is C$98.33.

A number of research firms have recently commented on PD. BMO Capital Markets dropped their target price on shares of Precision Drilling from C$100.00 to C$90.00 in a report on Thursday, April 17th. Raymond James downgraded shares of Precision Drilling from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the company from C$141.00 to C$124.00 in a research note on Wednesday, April 9th. Royal Bank of Canada decreased their target price on shares of Precision Drilling from C$110.00 to C$89.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. CIBC lowered their price target on shares of Precision Drilling from C$115.00 to C$95.00 in a report on Thursday, April 10th. Finally, TD Securities cut their price objective on Precision Drilling from C$89.00 to C$69.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th.

Precision Drilling Price Performance

PD traded up C$0.60 during trading on Wednesday, hitting C$58.63. 18,318 shares of the stock traded hands, compared to its average volume of 133,891. The business has a 50 day moving average price of C$60.48 and a 200 day moving average price of C$75.10. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. Precision Drilling has a twelve month low of C$51.38 and a twelve month high of C$109.20. The company has a market cap of C$834.31 million, a price-to-earnings ratio of 3.45, a PEG ratio of -3.24 and a beta of 2.76.

About Precision Drilling

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.