ATB Cormark Capital Markets Cuts Precision Drilling (TSE:PD) Price Target to C$160.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective reduced by ATB Cormark Capital Markets from C$165.00 to C$160.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

PD has been the subject of a number of other research reports. Raymond James Financial lifted their target price on Precision Drilling from C$162.00 to C$165.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Canadian Imperial Bank of Commerce lowered their price target on Precision Drilling from C$160.00 to C$155.00 in a report on Thursday. Royal Bank Of Canada lifted their price objective on Precision Drilling from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a report on Tuesday, April 14th. TD decreased their target price on Precision Drilling from C$124.00 to C$116.00 and set a “hold” rating for the company in a research report on Thursday. Finally, BMO Capital Markets upped their target price on shares of Precision Drilling from C$160.00 to C$165.00 in a research note on Thursday, April 30th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Precision Drilling currently has an average rating of “Moderate Buy” and a consensus target price of C$148.00.

Precision Drilling Price Performance

Shares of PD opened at C$109.00 on Thursday. The company has a market capitalization of C$1.40 billion, a P/E ratio of -46.19, a price-to-earnings-growth ratio of -3.24 and a beta of 0.42. The company has a quick ratio of 1.36, a current ratio of 1.46 and a debt-to-equity ratio of 43.54. The firm has a 50 day moving average of C$119.09 and a 200 day moving average of C$121.34. Precision Drilling has a twelve month low of C$72.87 and a twelve month high of C$143.81.

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

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.