BMO Capital Markets Boosts Precision Drilling (TSE:PD) Price Target to C$55.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target increased by BMO Capital Markets from C$45.00 to C$55.00 in a research report sent to investors on Thursday, Analyst Ratings Network reports. BMO Capital Markets currently has a na rating on the stock.

A number of other brokerages have also commented on PD. TD Securities increased their price objective on Precision Drilling from C$40.00 to C$50.00 and gave the company a na rating in a research report on Monday. CIBC raised their price target on Precision Drilling from C$45.00 to C$50.00 and gave the company an outperform rating in a report on Friday, June 4th. National Bankshares raised Precision Drilling from a sector perform rating to an outperform rating and boosted their price objective for the stock from C$32.50 to C$40.00 in a report on Thursday, April 15th. Raymond James raised their target price on shares of Precision Drilling from C$47.00 to C$55.00 and gave the company a na rating in a research note on Monday. Finally, Tudor Pickering reissued a hold rating on shares of Precision Drilling in a research note on Wednesday, February 10th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Precision Drilling has a consensus rating of Buy and an average target price of C$39.29.

Shares of TSE:PD opened at C$45.06 on Thursday. The company has a current ratio of 1.99, a quick ratio of 1.84 and a debt-to-equity ratio of 91.78. The company has a market cap of C$599.48 million and a price-to-earnings ratio of -4.06. Precision Drilling has a 12 month low of C$15.20 and a 12 month high of C$48.21. The stock’s 50-day moving average is C$35.17.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its earnings results on Thursday, April 22nd. The company reported C($2.70) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C($2.83) by C$0.13. The company had revenue of C$236.47 million for the quarter, compared to analyst estimates of C$233.25 million. As a group, analysts expect that Precision Drilling will post -5.0100001 EPS for the current year.

About Precision Drilling

Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related products and services in North America and the Middle East. 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.

Recommended Story: What is the formula for the cash asset ratio?

Analyst Recommendations for Precision Drilling (TSE:PD)

Receive News & Ratings for Precision Drilling Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Precision Drilling and related companies with MarketBeat.com's FREE daily email newsletter.