Analysts Set Precision Drilling Co. (TSE:PD) Price Target at C$124.00

Precision Drilling Co. (TSE:PD) (NYSE:PDS) has been given an average recommendation of “Buy” by the nine brokerages that are presently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$126.73.

Several analysts have issued reports on PD shares. Piper Sandler Companies dropped their price objective on Precision Drilling from C$107.00 to C$100.00 and set an “overweight” rating on the stock in a research note on Monday, January 8th. Royal Bank of Canada dropped their price objective on Precision Drilling from C$125.00 to C$122.00 in a research note on Friday, January 12th. Evercore dropped their price objective on 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. ATB Capital upped their price objective on Precision Drilling from C$125.00 to C$126.00 in a research note on Monday, April 8th. Finally, Stifel Nicolaus upped their price objective on Precision Drilling from C$115.00 to C$125.00 and gave the company a “buy” rating in a research note on Thursday, April 18th.

Insider Buying and Selling

In other Precision Drilling news, Director Carey Thomas Ford sold 3,756 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of C$62.16, for a total value of C$233,472.96. In other Precision Drilling news, Director Carey Thomas Ford sold 3,756 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of C$62.16, for a total value of C$233,472.96. Also, Senior Officer Veronica H. Foley sold 1,763 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of C$62.23, for a total value of C$109,711.49. Insiders have sold 21,373 shares of company stock valued at $1,329,227 over the last 90 days. 1.32% of the stock is owned by corporate insiders.

Precision Drilling Stock Down 1.7 %

PD stock opened at C$90.24 on Tuesday. The company has a debt-to-equity ratio of 62.97, a current ratio of 1.40 and a quick ratio of 1.36. The stock has a market capitalization of C$1.31 billion, a P/E ratio of 4.62, a P/E/G ratio of -3.24 and a beta of 2.92. The business has a 50-day moving average of C$89.02 and a 200-day moving average of C$81.83. Precision Drilling has a fifty-two week low of C$56.42 and a fifty-two week high of C$104.90.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its earnings results on Tuesday, February 6th. The company reported C$4.70 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.82 by C$1.88. Precision Drilling had a return on equity of 20.61% and a net margin of 14.93%. The business had revenue of C$506.87 million for the quarter, compared to analyst estimates of C$476.00 million. On average, sell-side analysts anticipate that Precision Drilling will post 8.6166667 earnings per share for the current fiscal year.

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.