Precision Drilling (TSE:PD) Sets New 52-Week High – Here’s Why

Precision Drilling Co. (TSE:PD) (NYSE:PDS) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$98.80 and last traded at C$98.80, with a volume of 27835 shares. The stock had previously closed at C$96.55.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PD shares. CIBC upped their target price on Precision Drilling from C$100.00 to C$110.00 in a research note on Wednesday, October 15th. TD Securities raised their target price on shares of Precision Drilling from C$77.00 to C$80.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Royal Bank Of Canada boosted their price target on shares of Precision Drilling from C$110.00 to C$117.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Atb Cap Markets raised shares of Precision Drilling to a “strong-buy” rating in a report on Thursday, October 30th. Finally, ATB Capital set a C$120.00 target price on Precision Drilling and gave the company an “outperform” rating in a research note on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Precision Drilling has an average rating of “Moderate Buy” and a consensus target price of C$107.14.

Precision Drilling Price Performance

The stock has a market capitalization of C$1.30 billion, a PE ratio of 23.70, a P/E/G ratio of -3.24 and a beta of 1.22. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36. The firm’s 50 day simple moving average is C$87.30 and its 200 day simple moving average is C$79.10.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported C($0.51) earnings per share (EPS) for the quarter. The business had revenue of C$462.25 million during the quarter. Precision Drilling had a net margin of 12.53% and a return on equity of 14.96%.

Precision Drilling Company Profile

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.