Precision Drilling (TSE:PD) Price Target Raised to C$165.00

Key Points

• BMO Capital Markets raised its price target on Precision Drilling to C$165.00, implying a 31.75% upside from the stock's current price.
• Multiple firms have recently lifted targets for PD—three analysts rate the stock a Buy and three a Hold—giving a consensus rating of “Moderate Buy” with a consensus target of C$146.63.
• PD traded down to C$125.24 on the day; the company reported quarterly EPS of C$1.34 on C$526.05M revenue, while showing a very high P/E of 894.57 and a net margin of 0.10%.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS had its price target upped by BMO Capital Markets from C$160.00 to C$165.00 in a research note issued on Thursday,BayStreet.CA reports. BMO Capital Markets' price objective indicates a potential upside of 31.75% from the stock's current price.

PD has been the subject of a number of other research reports. National Bank Financial increased their price objective on shares of Precision Drilling from C$120.00 to C$140.00 and gave the company a "sector perform" rating in a report on Friday, February 13th. ATB Cormark Capital Markets raised their price objective on shares of Precision Drilling from C$135.00 to C$160.00 and gave the stock an "outperform" rating in a research report on Monday, March 23rd. Raymond James Financial lifted their target price on shares of Precision Drilling from C$143.00 to C$158.00 in a research note on Monday, March 30th. TD upped their price target on Precision Drilling from C$123.00 to C$127.00 and gave the company a "hold" rating in a research note on Monday, April 13th. Finally, TD Securities increased their price target on Precision Drilling from C$118.00 to C$123.00 in a report on Thursday, February 12th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$146.63.

Precision Drilling Price Performance

TSE PD traded down C$14.79 during trading hours on Thursday, reaching C$125.24. The company's stock had a trading volume of 188,231 shares, compared to its average volume of 94,795. 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 firm has a market capitalization of C$1.62 billion, a price-to-earnings ratio of 894.57, a P/E/G ratio of -3.24 and a beta of 0.59. The company's 50-day moving average is C$127.37 and its two-hundred day moving average is C$106.12. Precision Drilling has a 1-year low of C$54.73 and a 1-year high of C$143.81.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS last released its quarterly earnings results on Thursday, April 30th. The company reported C$1.34 earnings per share (EPS) for the quarter. The firm had revenue of C$526.05 million for the quarter. Precision Drilling had a net margin of 0.10% and a return on equity of 0.11%.

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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