Precision Drilling Co. (TSE:PD) Receives C$124.00 Average Target Price from Analysts

Precision Drilling Co. (TSE:PD) (NYSE:PDS) has earned a consensus recommendation of “Buy” from the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$124.91.

Several equities analysts recently issued reports on the company. Raymond James decreased their target price on Precision Drilling from C$137.00 to C$132.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, February 7th. Stifel Nicolaus upped their price target on Precision Drilling from C$115.00 to C$125.00 and gave the stock a “buy” rating in a report on Thursday. BMO Capital Markets upped their price target on Precision Drilling from C$125.00 to C$130.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Piper Sandler Companies cut their price target on Precision Drilling from C$107.00 to C$100.00 and set an “overweight” rating on the stock in a report on Monday, January 8th. Finally, TD Securities cut their price target on Precision Drilling from C$125.00 to C$115.00 and set a “buy” rating on the stock in a report on Wednesday, February 7th.

Precision Drilling Price Performance

PD opened at C$92.83 on Tuesday. The stock’s 50-day moving average price is C$88.91 and its 200 day moving average price is C$81.80. Precision Drilling has a 12-month low of C$56.42 and a 12-month high of C$104.90. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 62.97. The firm has a market cap of C$1.34 billion, a price-to-earnings ratio of 4.75, a PEG ratio of -3.24 and a beta of 2.92.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its earnings results on Tuesday, February 6th. The company reported C$4.70 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.82 by C$1.88. Precision Drilling had a return on equity of 20.61% and a net margin of 14.93%. The firm had revenue of C$506.87 million for the quarter, compared to analyst estimates of C$476.00 million. As a group, sell-side analysts expect that Precision Drilling will post 8.6166667 earnings per share for the current year.

Insider Activity

In other news, Senior Officer Veronica H. Foley sold 7,878 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of C$62.16, for a total value of C$489,696.48. In related news, Director Carey Thomas Ford sold 7,976 shares of the company’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. Also, Senior Officer Veronica H. Foley sold 7,878 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of C$62.16, for a total value of C$489,696.48. In the last 90 days, insiders have sold 21,373 shares of company stock worth $1,329,227. 1.32% of the stock is currently owned by insiders.

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.