Precision Drilling (TSE:PD) Price Target Cut to C$124.00 by Analysts at TD

Key Points

• TD cut its price target on Precision Drilling to C$124.00 from C$130.00 and kept a hold rating, implying about 4.45% upside from the prior close.
• Other analysts remain mixed but generally positive: several firms raised targets, and MarketBeat says the stock currently has a Moderate Buy consensus with an average target of C$150.25.
• The stock rose to C$118.72 on Monday, while the company’s latest quarter showed C$1.34 EPS on C$526.05 million in revenue, though profitability remained negative.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS had its target price lowered by equities research analysts at TD from C$130.00 to C$124.00 in a note issued to investors on Monday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. TD's price objective indicates a potential upside of 4.45% from the stock's previous close.

PD has been the subject of a number of other reports. National Bank Financial boosted their target price on shares of Precision Drilling from C$140.00 to C$150.00 and gave the company a "sector perform" rating in a research note on Friday, May 1st. Canadian Imperial Bank of Commerce raised their price target on Precision Drilling from C$150.00 to C$160.00 in a research note on Friday, May 1st. Raymond James Financial lifted their price objective on Precision Drilling from C$162.00 to C$165.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. ATB Cormark Capital Markets reduced their price objective on Precision Drilling from C$175.00 to C$165.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Royal Bank Of Canada raised their target price on Precision Drilling from C$140.00 to C$150.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 14th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Precision Drilling presently has a consensus rating of "Moderate Buy" and an average price target of C$150.25.

Precision Drilling Stock Performance

Shares of TSE PD traded up C$5.02 during trading on Monday, reaching C$118.72. 38,836 shares of the company traded hands, compared to its average volume of 91,846. The firm has a 50 day simple moving average of C$123.41 and a 200-day simple moving average of C$119.72. Precision Drilling has a 52-week low of C$66.52 and a 52-week high of C$143.81. The stock has a market capitalization of C$1.54 billion, a PE ratio of -114.15, a P/E/G ratio of -3.24 and a beta of 0.42. The company has a quick ratio of 1.36, a current ratio of 1.70 and a debt-to-equity ratio of 45.24.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS last released its quarterly earnings data on Thursday, April 30th. The company reported C$1.34 earnings per share for the quarter. The firm had revenue of C$526.05 million during the quarter. Precision Drilling had a negative net margin of 0.82% and a negative return on equity of 0.94%.

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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