Precision Drilling Co. (TSE:PD) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) have been assigned a consensus recommendation of “Buy” from the nine research firms that are covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is C$126.73.

PD has been the topic of a number of recent analyst reports. Piper Sandler Companies decreased their target price on shares of Precision Drilling from C$107.00 to C$100.00 and set an “overweight” rating on the stock in a research report on Monday, January 8th. Raymond James cut their target price on shares of 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. BMO Capital Markets raised their price objective on shares of Precision Drilling from C$125.00 to C$130.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. TD Securities lowered their target price on shares of Precision Drilling from C$125.00 to C$115.00 and set a “buy” rating on the stock in a research report on Wednesday, February 7th. Finally, CIBC raised their target price on shares of Precision Drilling from C$110.00 to C$130.00 and gave the stock an “outperform” rating in a research report on Monday.

Insiders Place Their Bets

In other news, Senior Officer Veronica H. Foley sold 7,878 shares of Precision Drilling stock in a transaction on Monday, February 12th. The stock was sold at an average price of C$62.16, for a total transaction of C$489,696.48. In related news, Director Carey Thomas Ford sold 3,756 shares of the business’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$233,472.96. 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 transaction of C$489,696.48. In the last ninety days, insiders have sold 21,373 shares of company stock worth $1,329,227. Corporate insiders own 1.32% of the company’s stock.

Precision Drilling Trading Down 1.7 %

Shares of PD stock opened at C$90.24 on Tuesday. The company’s 50-day moving average price is C$89.02 and its 200-day moving average price is C$81.83. 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 stock has a market cap of C$1.31 billion, a price-to-earnings ratio of 4.62, a PEG ratio of -3.24 and a beta of 2.92. Precision Drilling has a twelve month low of C$56.42 and a twelve month high of C$104.90.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings results on Tuesday, February 6th. The company reported C$4.70 earnings per share for the quarter, beating the consensus estimate of C$2.82 by C$1.88. The firm had revenue of C$506.87 million for the quarter, compared to analysts’ expectations of C$476.00 million. Precision Drilling had a net margin of 14.93% and a return on equity of 20.61%. As a group, equities analysts predict that Precision Drilling will post 8.6166667 earnings per share for the current year.

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.