TD Forecasts Strong Price Appreciation for Precision Drilling (TSE:PD) Stock

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective upped by equities researchers at TD from C$127.00 to C$130.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. TD’s target price would suggest a potential upside of 0.42% from the company’s current price.

PD has been the subject of several other reports. Canadian Imperial Bank of Commerce boosted their price target on Precision Drilling from C$150.00 to C$160.00 in a report on Friday. BMO Capital Markets boosted their price target on Precision Drilling from C$160.00 to C$165.00 in a report on Thursday. TD Securities boosted their price target on Precision Drilling from C$118.00 to C$123.00 in a report on Thursday, February 12th. Royal Bank Of Canada boosted their price objective on shares of Precision Drilling from C$140.00 to C$150.00 and gave the company an “outperform” rating in a research note on Tuesday, April 14th. Finally, National Bank Financial upped their price objective on Precision Drilling from C$120.00 to C$140.00 and gave the stock a “sector perform” rating in a report on Friday, February 13th. Three research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$152.25.

Precision Drilling Trading Up 2.2%

PD traded up C$2.75 during trading on Friday, hitting C$129.45. The company’s stock had a trading volume of 77,339 shares, compared to its average volume of 96,644. The firm’s 50 day moving average price is C$127.45 and its 200-day moving average price is C$106.26. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.62 and a quick ratio of 1.36. The stock has a market cap of C$1.68 billion, a PE ratio of 924.64, a PEG ratio of -3.24 and a beta of 0.59. Precision Drilling has a twelve month low of C$54.73 and a twelve month 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 return on equity of 0.11% and a net margin of 0.10%.

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.