TD Raises Precision Drilling (TSE:PD) Price Target to C$127.00

Key Points

• TD raised its price target on Precision Drilling to C$127.00 (from C$123.00) and kept a "hold" rating, a target that implies about a 1.07% downside from the current share price.
• Multiple other banks bumped targets (BMO C$150, Raymond James C$158, RBC C$140, CIBC C$150, ATB Cormark C$160), leaving a MarketBeat consensus of Moderate Buy with an average target of C$143.50.
• Shares traded at C$128.38 (up 0.4%) with a market cap of C$1.66B, while the company reported a C($6.50) EPS for the quarter on C$478.5M revenue, indicating mixed fundamentals despite rising analyst targets.

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS had its price objective increased by research analysts at TD from C$123.00 to C$127.00 in a report issued on Monday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. TD's price target would indicate a potential downside of 1.07% from the stock's current price.

PD has been the topic of a number of other reports. BMO Capital Markets upped their price target on shares of Precision Drilling from C$120.00 to C$150.00 in a research note on Thursday, February 12th. Raymond James Financial upped their price target on shares of Precision Drilling from C$143.00 to C$158.00 in a research note on Monday, March 30th. Royal Bank Of Canada upped their price target on shares of Precision Drilling from C$124.00 to C$140.00 and gave the stock an "outperform" rating in a research note on Monday, March 23rd. Canadian Imperial Bank of Commerce upped their price target on shares of Precision Drilling from C$140.00 to C$150.00 in a research note on Tuesday, March 24th. Finally, ATB Cormark Capital Markets upped their price target 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. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$143.50.

Precision Drilling Stock Up 0.4%

Shares of Precision Drilling stock traded up C$0.57 during midday trading on Monday, hitting C$128.38. The company's stock had a trading volume of 31,440 shares, compared to its average volume of 90,949. The firm has a market capitalization of C$1.66 billion, a P/E ratio of 917.00, a PEG ratio of -3.24 and a beta of 0.59. The stock has a 50-day simple moving average of C$125.26 and a 200-day simple moving average of C$102.14. The company has a quick ratio of 1.36, a current ratio of 1.62 and a debt-to-equity ratio of 49.96. 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 issued its earnings results on Thursday, February 12th. The company reported C($6.50) EPS for the quarter. The business had revenue of C$478.51 million during 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.

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