Precision Drilling (TSE:PD) Hits New 52-Week High – Should You Buy?

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$129.39 and last traded at C$129.39, with a volume of 23971 shares. The stock had previously closed at C$126.87.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Canadian Imperial Bank of Commerce lifted their price objective on Precision Drilling from C$120.00 to C$140.00 in a report on Friday, February 13th. Royal Bank Of Canada raised their price target on Precision Drilling from C$119.00 to C$124.00 and gave the company an “outperform” rating in a report on Friday, February 13th. BMO Capital Markets upped their price objective on Precision Drilling from C$120.00 to C$150.00 in a report on Thursday, February 12th. Raymond James Financial increased their price objective on Precision Drilling from C$131.00 to C$143.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Finally, ATB Cormark Capital Markets set a C$120.00 target price on Precision Drilling and gave the company an “outperform” rating in a report on Friday, December 19th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$134.29.

Precision Drilling Stock Up 0.9%

The company has a debt-to-equity ratio of 49.96, a current ratio of 1.62 and a quick ratio of 1.36. The company has a market capitalization of C$1.66 billion, a price-to-earnings ratio of 914.14, a price-to-earnings-growth ratio of -3.24 and a beta of 1.09. The firm’s 50-day simple moving average is C$113.13 and its two-hundred day simple moving average is C$94.51.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings results on Thursday, February 12th. The company reported C($6.50) earnings per share (EPS) for the quarter. The company had revenue of C$478.51 million for the quarter. Precision Drilling had a net margin of 0.10% and a return on equity of 0.11%.

Precision Drilling Company Profile

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.