Royal Bank of Canada Issues Pessimistic Forecast for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective reduced by equities researchers at Royal Bank of Canada from C$121.00 to C$110.00 in a research report issued on Friday,BayStreet.CA reports. Royal Bank of Canada’s price objective indicates a potential upside of 41.33% from the company’s previous close.

Several other analysts also recently issued reports on the company. TD Securities downgraded Precision Drilling from a “buy” rating to a “hold” rating and cut their price objective for the stock from C$120.00 to C$100.00 in a report on Monday, February 3rd. Raymond James cut their price objective on Precision Drilling from C$146.00 to C$141.00 in a report on Friday. Finally, ATB Capital boosted their price objective on Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of C$119.00.

Precision Drilling Price Performance

TSE PD traded down C$1.21 on Friday, reaching C$77.83. The company’s stock had a trading volume of 127,621 shares, compared to its average volume of 111,976. Precision Drilling has a twelve month low of C$76.50 and a twelve month high of C$109.20. The company has a debt-to-equity ratio of 51.98, a quick ratio of 1.36 and a current ratio of 1.54. The stock has a market cap of C$1.11 billion, a PE ratio of 4.58, a PEG ratio of -3.24 and a beta of 2.76. The firm’s 50 day moving average is C$87.20 and its two-hundred day moving average is C$89.40.

Precision Drilling Company Profile

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.