Precision Drilling (TSE:PD) Stock Price Expected to Rise, National Bank Financial Analyst Says

Key Points

• National Bank Financial raised its price target on Precision Drilling to C$150 (from C$140), implying about a 15.87% upside“Moderate Buy” with a consensus target of C$152.25.
• Shares traded at C$129.45 on the most recent session, the company has a market cap of C$1.68 billion and a stretched valuation with a P/E of 924.64 and a 12‑month range of C$54.73–C$143.81.
• In the latest quarter Precision reported C$1.34 EPS on revenue of C$526.05 million, but posted a very low net margin of 0.10% and return on equity of 0.11%.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS had its price target raised by National Bank Financial from C$140.00 to C$150.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. National Bank Financial's target price suggests a potential upside of 15.87% from the stock's current price.

Several other research analysts also recently commented on the stock. TD Securities lifted their price target on shares of Precision Drilling from C$118.00 to C$123.00 in a research note on Thursday, February 12th. ATB Cormark Capital Markets lifted their target price on shares of Precision Drilling from C$135.00 to C$160.00 and gave the stock an "outperform" rating in a research note 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. Canadian Imperial Bank of Commerce lifted their target price on shares of Precision Drilling from C$150.00 to C$160.00 in a research note on Friday. Finally, TD lifted their target price on shares of Precision Drilling from C$127.00 to C$130.00 and gave the stock a "hold" rating in a research note on Friday. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Precision Drilling presently has a consensus rating of "Moderate Buy" and a consensus price target of C$152.25.

Precision Drilling Price Performance

Shares of PD stock traded up C$2.75 during trading hours on Friday, hitting C$129.45. 77,339 shares of the company's stock were exchanged, compared to its average volume of 96,644. The company has a market capitalization of C$1.68 billion, a PE ratio of 924.64, a PEG ratio of -3.24 and a beta of 0.59. Precision Drilling has a 12-month low of C$54.73 and a 12-month high of C$143.81. The business's 50 day simple moving average is C$127.45 and its 200-day simple moving average is C$106.26. The company has a current ratio of 1.62, a quick ratio of 1.36 and a debt-to-equity ratio of 49.96.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS last posted its quarterly earnings results on Thursday, April 30th. The company reported C$1.34 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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