TD Forecasts Strong Price Appreciation for Precision Drilling (TSE:PD) Stock

Key Points

• TD raised its target on Precision Drilling to C$130 (from C$127) while maintaining a "hold" rating, which implies only about 0.42% upside from the current share price.
• Several other banks lifted targets more aggressively (BMO C$165, RBC C$150, CIBC C$160, Raymond James C$158), leaving a consensus target of C$152.25 and an analyst split of three Buys and three Holds ("Moderate Buy").
• PD traded at C$129.45 with a 52-week range of C$54.73–C$143.81, but fundamentals show very thin profitability (net margin 0.10%, ROE 0.11%) and an extremely high reported P/E of 924.64.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS had its target price upped by equities researchers at TD from C$127.00 to C$130.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. TD's target price points to a potential upside of 0.42% from the company's current price.

Several other equities research analysts have also commented on PD. BMO Capital Markets boosted their price target on Precision Drilling from C$160.00 to C$165.00 in a research note on Thursday. National Bank Financial boosted their price target on Precision Drilling from C$120.00 to C$140.00 and gave the stock a "sector perform" rating in a research note on Friday, February 13th. Royal Bank Of Canada boosted their price target on Precision Drilling from C$140.00 to C$150.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 14th. Canadian Imperial Bank of Commerce boosted their price target on Precision Drilling from C$150.00 to C$160.00 in a research note on Friday. Finally, Raymond James Financial boosted their price target on Precision Drilling from C$143.00 to C$158.00 in a research note on Monday, March 30th. 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$152.25.

Precision Drilling Stock Performance

PD traded up C$2.75 during trading on Friday, reaching C$129.45. The company's stock had a trading volume of 77,339 shares, compared to its average volume of 96,644. Precision Drilling has a 52-week low of C$54.73 and a 52-week high of C$143.81. The company's fifty day moving average price is C$127.45 and its 200-day moving average price is C$106.26. The company has a market capitalization of C$1.68 billion, a price-to-earnings ratio of 924.64, a price-to-earnings-growth ratio of -3.24 and a beta of 0.59. The company has a debt-to-equity ratio of 49.96, a quick ratio of 1.36 and a current ratio of 1.62.

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

Precision Drilling Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.