Precision Drilling (TSE:PD) Rating Reiterated by Citigroup

Precision Drilling (TSE:PD) (NYSE:PDS)‘s stock had its “hold” rating reiterated by research analysts at Citigroup in a research note issued to investors on Wednesday, Analyst Price Targets reports.

Other research analysts have also issued research reports about the company. Tudor Pickering & Holt restated a “hold” rating on shares of Precision Drilling in a research report on Thursday, July 22nd. Evercore boosted their price objective on Precision Drilling from C$69.00 to C$70.00 in a research report on Friday, July 23rd. Royal Bank of Canada boosted their price objective on Precision Drilling from C$62.00 to C$65.00 and gave the company an “outperform” rating in a research report on Friday, July 23rd. Tudor Pickering set a C$42.31 price objective on Precision Drilling in a research report on Friday, July 23rd. Finally, BMO Capital Markets boosted their price objective on Precision Drilling from C$45.00 to C$55.00 and gave the company a “na” rating in a research report on Thursday, June 10th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of C$53.62.

Shares of TSE PD traded up C$0.25 during trading on Wednesday, reaching C$43.73. The stock had a trading volume of 31,242 shares, compared to its average volume of 129,788. Precision Drilling has a one year low of C$15.80 and a one year high of C$54.72. The company has a debt-to-equity ratio of 93.98, a quick ratio of 1.50 and a current ratio of 1.64. The stock has a market cap of C$581.78 million and a PE ratio of -3.31. The firm’s 50 day moving average price is C$41.94 and its two-hundred day moving average price is C$38.50.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings results on Thursday, July 22nd. The company reported C($5.71) earnings per share for the quarter, missing the Zacks’ consensus estimate of C($4.55) by C($1.16). The firm had revenue of C$201.36 million during the quarter, compared to analyst estimates of C$207.50 million. On average, research analysts expect that Precision Drilling will post -3.900195 earnings per share for the current year.

About Precision Drilling

Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related products and services in North America and the Middle East. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

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Analyst Recommendations for Precision Drilling (TSE:PD)

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