Precision Drilling (TSE:PD) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price hoisted by investment analysts at BMO Capital Markets from C$120.00 to C$150.00 in a note issued to investors on Thursday,BayStreet.CA reports. BMO Capital Markets’ price target points to a potential upside of 34.83% from the stock’s current price.

A number of other research firms have also weighed in on PD. ATB Capital set a C$120.00 target price on shares of Precision Drilling and gave the company an “outperform” rating in a report on Friday, December 19th. Raymond James Financial boosted their target price on shares of Precision Drilling from C$132.00 to C$133.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. National Bank Financial increased their price target on shares of Precision Drilling from C$100.00 to C$120.00 and gave the company a “sector perform” rating in a report on Friday, January 9th. TD Securities boosted their price objective on Precision Drilling from C$80.00 to C$118.00 in a research note on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce upped their price objective on Precision Drilling from C$110.00 to C$120.00 in a research report on Tuesday, January 13th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$126.14.

Precision Drilling Price Performance

Shares of PD stock traded down C$11.26 on Thursday, hitting C$111.25. 161,255 shares of the stock traded hands, compared to its average volume of 83,655. 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 has a market cap of C$1.44 billion, a price-to-earnings ratio of 26.68, a PEG ratio of -3.24 and a beta of 1.43. The firm has a 50 day simple moving average of C$102.03 and a two-hundred day simple moving average of C$87.43. Precision Drilling has a 52 week low of C$51.38 and a 52 week high of C$122.65.

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

About Precision Drilling

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.