Precision Drilling Co. (TSE:PD) Receives C$65.63 Average Target Price from Analysts

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) have been assigned a consensus recommendation of “Buy” from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$65.63.

A number of research analysts have commented on PD shares. Tudor Pickering & Holt restated a “buy” rating on shares of Precision Drilling in a research note on Friday, September 24th. Evercore boosted their price target on shares of Precision Drilling from C$78.00 to C$82.00 in a research note on Friday, January 7th. Piper Sandler raised shares of Precision Drilling to a “buy” rating and set a C$57.00 price objective on the stock in a report on Tuesday, December 21st. downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating and set a C$66.00 price objective on the stock. in a report on Friday, October 22nd. Finally, CIBC boosted their price objective on shares of Precision Drilling from C$60.00 to C$65.00 and gave the stock a “na” rating in a report on Friday, October 15th.

Precision Drilling stock opened at C$56.35 on Wednesday. The company has a fifty day simple moving average of C$45.68 and a 200-day simple moving average of C$46.10. Precision Drilling has a 12-month low of C$24.67 and a 12-month high of C$62.26. The company has a current ratio of 1.57, a quick ratio of 1.45 and a debt-to-equity ratio of 97.51. The stock has a market cap of C$749.68 million and a P/E ratio of -4.03.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings results on Thursday, October 21st. The company reported C($2.86) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C($1.66) by C($1.20). The company had revenue of C$253.81 million for the quarter, compared to analysts’ expectations of C$262.73 million. As a group, sell-side analysts forecast that Precision Drilling will post -2.92 earnings per share for the current fiscal 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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