Precision Drilling (TSE:PD) PT Lowered to C$142.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price cut by Raymond James from C$143.00 to C$142.00 in a research note published on Tuesday morning, BayStreet.CA reports. Raymond James also issued estimates for Precision Drilling’s FY2024 earnings at $9.12 EPS, FY2025 earnings at $17.32 EPS and FY2026 earnings at $19.45 EPS.

PD has been the topic of a number of other research reports. CIBC lifted their target price on shares of Precision Drilling from C$130.00 to C$140.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Royal Bank of Canada increased their target price on Precision Drilling from C$122.00 to C$125.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. TD Securities dropped their price target on Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating on the stock in a research report on Tuesday, October 8th. ATB Capital decreased their price objective on Precision Drilling from C$123.00 to C$113.00 in a report on Monday, September 23rd. Finally, BMO Capital Markets dropped their target price on shares of Precision Drilling from C$140.00 to C$130.00 in a report on Friday, October 4th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of C$126.90.

Precision Drilling Stock Up 0.0 %

TSE PD opened at C$83.51 on Tuesday. The business’s 50-day moving average is C$90.23 and its 200 day moving average is C$94.39. The stock has a market capitalization of C$1.18 billion, a PE ratio of 5.21, a PEG ratio of -3.24 and a beta of 2.76. The company has a debt-to-equity ratio of 56.37, a current ratio of 1.51 and a quick ratio of 1.36. Precision Drilling has a 1 year low of C$67.46 and a 1 year high of C$109.20.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its earnings results on Tuesday, July 30th. The company reported C$1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of C($0.85) by C$2.29. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%. The firm had revenue of C$429.21 million for the quarter, compared to analysts’ expectations of C$423.50 million.

Insider Buying and Selling

In other news, Senior Officer Veronica H. Foley sold 5,335 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$99.49, for a total transaction of C$530,779.18. In other Precision Drilling news, Director David Williams sold 3,500 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$100.01, for a total value of C$350,035.00. Also, Senior Officer Veronica H. Foley sold 5,335 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$99.49, for a total transaction of C$530,779.18. 2.12% of the stock is currently 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.