Precision Drilling (TSE:PD) Upgraded at TD

Precision Drilling (TSE:PD) (NYSE:PDS) was upgraded by equities researchers at TD from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, BayStreet reports. The brokerage currently has a C$150.00 target price on the stock, up from their prior target price of C$116.00. TD’s price target suggests a potential upside of 18.04% from the company’s current price.

Several other equities research analysts have also recently weighed in on PD. ATB Cormark Capital Markets decreased their price target on Precision Drilling from C$165.00 to C$160.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Canadian Imperial Bank of Commerce cut their price objective on shares of Precision Drilling from C$160.00 to C$155.00 in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Precision Drilling presently has a consensus rating of “Moderate Buy” and a consensus price target of C$152.25.

Precision Drilling Stock Performance

Shares of TSE:PD traded up C$4.33 during midday trading on Tuesday, reaching C$127.08. 115,878 shares of the company traded hands, compared to its average volume of 84,419. The company has a quick ratio of 1.36, a current ratio of 1.46 and a debt-to-equity ratio of 43.54. Precision Drilling has a 12 month low of C$75.94 and a 12 month high of C$143.81. The firm has a market capitalization of C$1.60 billion, a price-to-earnings ratio of -53.85, a price-to-earnings-growth ratio of -3.24 and a beta of 0.59. The firm’s fifty day moving average price is C$121.14 and its two-hundred day moving average price is C$121.57.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C($0.52) earnings per share (EPS) for the quarter. Precision Drilling had a negative return on equity of 2.03% and a negative net margin of 1.71%. The company had revenue of C$452.80 million for the quarter.

About Precision Drilling

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.