Precision Drilling (TSE:PD) Price Target Increased to C$136.00 by Analysts at Raymond James

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective lifted by analysts at Raymond James from C$132.00 to C$136.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm presently has a “strong-buy” rating on the stock. Raymond James’ target price points to a potential upside of 37.93% from the company’s current price.

Several other brokerages also recently issued reports on PD. Evercore cut their price target on Precision Drilling from C$142.00 to C$139.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Stifel Nicolaus lifted their target price on Precision Drilling from C$115.00 to C$125.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Piper Sandler Companies cut their target price on Precision Drilling from C$107.00 to C$100.00 and set an “overweight” rating on the stock in a research note on Monday, January 8th. TD Securities cut their target price on Precision Drilling from C$125.00 to C$115.00 and set a “buy” rating on the stock in a research note on Wednesday, February 7th. Finally, BMO Capital Markets lifted their target price on Precision Drilling from C$125.00 to C$130.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$127.09.

Precision Drilling Stock Performance

TSE:PD traded up C$4.49 during trading hours on Friday, reaching C$98.60. 88,555 shares of the stock were exchanged, compared to its average volume of 86,275. The company has a quick ratio of 1.36, a current ratio of 1.40 and a debt-to-equity ratio of 62.97. The firm has a 50 day simple moving average of C$89.73 and a 200-day simple moving average of C$82.15. Precision Drilling has a 52 week low of C$56.42 and a 52 week high of C$104.90. The stock has a market capitalization of C$1.43 billion, a P/E ratio of 5.04, a P/E/G ratio of -3.24 and a beta of 2.92.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its earnings results on Thursday, April 25th. The company reported C$2.53 EPS for the quarter, missing analysts’ consensus estimates of C$2.73 by C($0.20). Precision Drilling had a return on equity of 20.61% and a net margin of 14.93%. The firm had revenue of C$527.79 million for the quarter, compared to the consensus estimate of C$539.50 million. As a group, sell-side analysts forecast that Precision Drilling will post 8.6166667 earnings per share for the current fiscal year.

Insider Activity at Precision Drilling

In other Precision Drilling news, Director Carey Thomas Ford sold 7,976 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total value of C$496,346.48. In other Precision Drilling news, Senior Officer Veronica H. Foley sold 1,763 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total value of C$109,711.49. Also, Director Carey Thomas Ford sold 7,976 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total value of C$496,346.48. Over the last 90 days, insiders sold 21,373 shares of company stock valued at $1,329,227. Insiders own 1.32% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.