Precision Drilling Corp (TSE:PD) Receives C$3.89 Average PT from Analysts

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Precision Drilling Corp (TSE:PD) (NYSE:PDS) has earned a consensus rating of “Buy” from the eleven brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating 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$3.89.

PD has been the subject of several recent analyst reports. Citigroup downgraded shares of Precision Drilling from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from C$2.50 to C$1.90 in a report on Tuesday, October 1st. CIBC decreased their price objective on shares of Precision Drilling from C$4.75 to C$4.50 in a report on Thursday, July 18th. BMO Capital Markets decreased their price objective on shares of Precision Drilling from C$5.00 to C$3.00 in a report on Tuesday, September 10th. TD Securities raised shares of Precision Drilling from a “buy” rating to an “action list buy” rating and decreased their price objective for the stock from C$5.00 to C$4.50 in a report on Wednesday, September 4th. Finally, Raymond James set a C$4.75 price objective on shares of Precision Drilling and gave the stock a “strong-buy” rating in a report on Tuesday, August 20th.

PD stock traded up C$0.01 during trading hours on Thursday, hitting C$1.38. The company’s stock had a trading volume of 1,624,800 shares, compared to its average volume of 1,528,676. The company has a quick ratio of 1.62, a current ratio of 1.83 and a debt-to-equity ratio of 102.02. The company has a market capitalization of $405.42 million and a PE ratio of -1.86. Precision Drilling has a 12 month low of C$1.33 and a 12 month high of C$4.18. The stock has a 50 day moving average price of C$1.64 and a two-hundred day moving average price of C$2.40.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its earnings results on Thursday, July 25th. The company reported C($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C($0.10) by C$0.05. The business had revenue of C$359.42 million during the quarter, compared to the consensus estimate of C$343.27 million. Sell-side analysts expect that Precision Drilling will post -0.1 earnings per share for the current year.

In related news, Director Kevin A. Neveu bought 35,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average cost of C$1.43 per share, for a total transaction of C$50,015.00. Following the purchase, the director now directly owns 1,055,966 shares in the company, valued at C$1,508,975.41.

Precision Drilling Company Profile

Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

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Analyst Recommendations for Precision Drilling (TSE:PD)

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