Precision Drilling (TSE:PD) Given New C$158.00 Price Target at Raymond James Financial

Key Points

• C$158.00 price target set by Raymond James Financial, implying roughly a 14.45% upside from the current share price.
• Multiple brokers (CIBC, RBC, BMO, TD, National Bank) have raised targets recently, leaving a consensus rating of Moderate Buy with an average price target of C$145.86 (three Buys, two Holds).
• Shares traded at C$138.05 on Monday (market cap C$1.79B) with a 12‑month range of C$51.38–C$143.81, and the company reported quarterly EPS of C($6.50).

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS had its target price lifted by analysts at Raymond James Financial from C$143.00 to C$158.00 in a note issued to investors on Monday,BayStreet.CA reports. Raymond James Financial's target price would indicate a potential upside of 14.45% from the stock's current price.

PD has been the topic of several other reports. Canadian Imperial Bank of Commerce lifted their target price on Precision Drilling from C$140.00 to C$150.00 in a research report on Tuesday, March 24th. Royal Bank Of Canada raised their price objective on Precision Drilling from C$124.00 to C$140.00 and gave the stock an "outperform" rating in a research note on Monday, March 23rd. National Bank Financial lifted their price objective on Precision Drilling from C$120.00 to C$140.00 and gave the company a "sector perform" rating in a research report on Friday, February 13th. BMO Capital Markets increased their target price on shares of Precision Drilling from C$120.00 to C$150.00 in a report on Thursday, February 12th. Finally, TD Securities raised their target price on shares of Precision Drilling from C$118.00 to C$123.00 in a research note on Thursday, February 12th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of C$145.86.

Precision Drilling Stock Performance

Shares of PD traded down C$2.04 on Monday, reaching C$138.05. The company's stock had a trading volume of 50,260 shares, compared to its average volume of 92,091. The stock's 50 day simple moving average is C$120.17 and its two-hundred day simple moving average is C$98.51. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.62 and a quick ratio of 1.36. The stock has a market capitalization of C$1.79 billion, a P/E ratio of 986.07, a PEG ratio of -3.24 and a beta of 1.09. Precision Drilling has a 12-month low of C$51.38 and a 12-month high of C$143.81.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS last released its quarterly earnings results on Thursday, February 12th. The company reported C($6.50) earnings per share for the quarter. Precision Drilling had a return on equity of 0.11% and a net margin of 0.10%.The business had revenue of C$478.51 million during the quarter.

About Precision Drilling

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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