Precision Drilling (TSE:PD) Sets New 1-Year High – Still a Buy?

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s stock price reached a new 52-week high on Monday . The company traded as high as C$104.45 and last traded at C$98.36, with a volume of 22222 shares. The stock had previously closed at C$101.05.

Analysts Set New Price Targets

A number of research analysts have commented on PD shares. Raymond James Financial raised their target price on shares of Precision Drilling from C$132.00 to C$133.00 and gave the company an “outperform” rating in a research report on Friday, October 24th. ATB Capital set a C$120.00 price objective on shares of Precision Drilling and gave the company an “outperform” rating in a report on Friday, December 19th. TD Securities boosted their price objective on shares of Precision Drilling from C$77.00 to C$80.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. CIBC lifted their price target on Precision Drilling from C$100.00 to C$110.00 in a report on Wednesday, October 15th. Finally, Royal Bank Of Canada boosted their price target on Precision Drilling from C$110.00 to C$117.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$107.14.

Precision Drilling Stock Up 0.3%

The company’s fifty day simple moving average is C$89.46 and its 200-day simple moving average is C$80.34. The firm has a market capitalization of C$1.30 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of -3.24 and a beta of 1.30. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings data on Wednesday, October 22nd. The company reported C($0.51) earnings per share for the quarter. Precision Drilling had a return on equity of 14.96% and a net margin of 12.53%.The business had revenue of C$462.25 million during the quarter.

Precision Drilling Company Profile

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.