Precision Drilling (TSE:PD) Stock Price Expected to Rise, National Bank Financial Analyst Says

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price hoisted by National Bank Financial from C$120.00 to C$140.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bank Financial’s target price would suggest a potential upside of 18.41% from the company’s current price.

Other analysts also recently issued reports about the stock. Royal Bank Of Canada boosted their target price on shares of Precision Drilling from C$110.00 to C$117.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Canadian Imperial Bank of Commerce upped their price target on Precision Drilling from C$110.00 to C$120.00 in a report on Tuesday, January 13th. BMO Capital Markets raised their price objective on Precision Drilling from C$120.00 to C$150.00 in a research note on Thursday. CIBC World Markets lifted their target price on Precision Drilling from C$120.00 to C$140.00 in a report on Friday. Finally, TD Securities upped their target price on Precision Drilling from C$118.00 to C$123.00 in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$132.50.

Precision Drilling Price Performance

PD traded up C$5.13 during trading on Friday, reaching C$118.23. The stock had a trading volume of 125,442 shares, compared to its average volume of 88,602. The stock has a 50 day moving average of C$102.42 and a two-hundred day moving average of C$87.61. The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98. The firm has a market capitalization of C$1.53 billion, a price-to-earnings ratio of 28.35, a price-to-earnings-growth ratio of -3.24 and a beta of 1.43. Precision Drilling has a 1-year low of C$51.38 and a 1-year high of C$122.65.

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

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.