Precision Drilling (TSE:PD) Given New C$125.00 Price Target at Stifel Nicolaus

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price raised by stock analysts at Stifel Nicolaus from C$115.00 to C$125.00 in a report issued on Thursday, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 32.63% from the company’s previous close.

PD has been the topic of several other reports. ATB Capital raised their price target on Precision Drilling from C$125.00 to C$126.00 in a research report on Monday, April 8th. Evercore decreased their target price on shares of Precision Drilling from C$142.00 to C$139.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. TD Securities dropped their price target on shares of Precision Drilling from C$125.00 to C$115.00 and set a “buy” rating for the company in a research report on Wednesday, February 7th. BMO Capital Markets raised their price target 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. Finally, Piper Sandler Companies lowered their price objective on shares of Precision Drilling from C$107.00 to C$100.00 and set an “overweight” rating for the company in a research note on Monday, January 8th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$124.91.

Precision Drilling Price Performance

TSE PD traded up C$0.22 on Thursday, reaching C$94.25. 18,419 shares of the company’s stock traded hands, compared to its average volume of 81,235. The company has a debt-to-equity ratio of 62.97, a current ratio of 1.40 and a quick ratio of 1.36. Precision Drilling has a 12 month low of C$56.42 and a 12 month high of C$104.90. The stock has a 50-day simple moving average of C$88.78 and a 200 day simple moving average of C$81.72. The stock has a market cap of C$1.36 billion, a PE ratio of 4.83, a P/E/G ratio of -3.24 and a beta of 2.92.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings results on Tuesday, February 6th. The company reported C$4.70 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.82 by C$1.88. The business had revenue of C$506.87 million during the quarter, compared to analyst estimates 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, research analysts predict that Precision Drilling will post 8.6166667 earnings per share for the current year.

Insider Activity

In other news, Senior Officer Veronica H. Foley sold 1,763 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of C$62.23, for a total transaction of C$109,711.49. In other news, Senior Officer Veronica H. Foley sold 1,763 shares of Precision Drilling stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of C$62.23, for a total transaction of C$109,711.49. Also, Director Carey Thomas Ford sold 7,976 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total value of C$496,346.48. Insiders sold a total of 21,373 shares of company stock worth $1,329,227 in the last quarter. 1.32% of the stock is owned by company insiders.

About Precision Drilling

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.