Precision Drilling (TSE:PD) Price Target Cut to C$165.00 by Analysts at ATB Cormark Capital Markets

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price reduced by ATB Cormark Capital Markets from C$175.00 to C$165.00 in a research note published on Friday,BayStreet.CA reports. ATB Cormark Capital Markets currently has an outperform rating on the stock.

Several other research analysts have also weighed in on PD. Canadian Imperial Bank of Commerce increased their price objective on shares of Precision Drilling from C$150.00 to C$160.00 in a report on Friday, May 1st. Royal Bank Of Canada boosted their target price on shares of Precision Drilling from C$140.00 to C$150.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Raymond James Financial increased their price target on shares of Precision Drilling from C$162.00 to C$165.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. BMO Capital Markets lifted their price target on shares of Precision Drilling from C$160.00 to C$165.00 in a report on Thursday, April 30th. Finally, National Bank Financial boosted their price objective on shares of Precision Drilling from C$140.00 to C$150.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Precision Drilling currently has a consensus rating of “Moderate Buy” and an average target price of C$151.00.

Precision Drilling Trading Down 0.6%

Shares of TSE:PD traded down C$0.68 during trading on Friday, reaching C$113.70. The stock had a trading volume of 65,229 shares, compared to its average volume of 92,281. The company has a quick ratio of 1.36, a current ratio of 1.70 and a debt-to-equity ratio of 45.24. The stock has a market cap of C$1.47 billion, a P/E ratio of -109.33, a PEG ratio of -3.24 and a beta of 0.42. The business has a fifty day moving average price of C$123.41 and a 200-day moving average price of C$119.53. Precision Drilling has a fifty-two week low of C$66.52 and a fifty-two week high of C$143.81.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings results on Thursday, April 30th. The company reported C$1.34 earnings per share for the quarter. The company had revenue of C$526.05 million during the quarter. Precision Drilling had a negative return on equity of 0.94% and a negative net margin of 0.82%.

Precision Drilling Company Profile

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.