Raymond James Financial Issues Positive Forecast for Precision Drilling (TSE:PD) Stock Price

Key Points

• Raymond James Financial raised its price target for Precision Drilling from C$119.00 to C$120.00, suggesting a potential upside of 54.96% from the stock's previous close.
• Despite this positive outlook, other analysts have lowered their price targets, with CIBC dropping it to C$95.00 and BMO reducing it to C$90.00.
• The stock has recently traded at C$77.44 and has a market capitalization of C$1.10 billion, with significant volatility indicated by a beta of 2.76.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS had its price target hoisted by analysts at Raymond James Financial from C$119.00 to C$120.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Raymond James Financial's price target would suggest a potential upside of 54.96% from the stock's previous close.

PD has been the subject of several other research reports. CIBC decreased their target price on shares of Precision Drilling from C$115.00 to C$95.00 in a research note on Thursday, April 10th. BMO Capital Markets reduced their price objective on shares of Precision Drilling from C$100.00 to C$90.00 in a research report on Thursday, April 17th. TD Securities dropped their target price on shares of Precision Drilling from C$89.00 to C$69.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. National Bankshares dropped their target price on shares of Precision Drilling from C$110.00 to C$100.00 and set a "sector perform" rating for the company in a report on Thursday, July 3rd. Finally, ATB Capital dropped their price objective on shares of Precision Drilling from C$87.00 to C$84.00 and set an "outperform" rating for the company in a research note on Wednesday, July 2nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$95.14.

Precision Drilling Stock Down 0.0%

TSE:PD traded down C$0.01 during trading hours on Thursday, hitting C$77.44. The company's stock had a trading volume of 67,764 shares, compared to its average volume of 122,587. The stock has a market capitalization of C$1.10 billion, a P/E ratio of 4.56, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76. The stock has a fifty day moving average of C$66.84 and a 200-day moving average of C$68.74. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. Precision Drilling has a 52-week low of C$51.38 and a 52-week high of C$109.20.

Precision Drilling Company Profile

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.

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