Precision Drilling (TSE:PD) Stock Moved Up to Strong-Buy by TD Securities

TD Securities upgraded shares of Precision Drilling (TSE:PD) (NYSE:PDS) from a hold rating to a strong-buy rating in a research report released on Tuesday,Zacks reports.

Other equities analysts have also issued research reports about the stock. ATB Cormark Capital Markets dropped their price objective on shares of Precision Drilling from C$165.00 to C$160.00 and set an “outperform” rating on the stock in a report on Thursday, July 30th. Canadian Imperial Bank of Commerce reduced their target price on Precision Drilling from C$160.00 to C$155.00 in a research note on Thursday, July 30th. Finally, TD upgraded Precision Drilling from a “hold” rating to a “buy” rating and raised their target price for the company from C$116.00 to C$150.00 in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$152.25.

Precision Drilling Stock Up 4.7%

Shares of TSE PD opened at C$128.46 on Tuesday. The firm has a market cap of C$1.62 billion, a PE ratio of -54.43, a P/E/G ratio of -3.24 and a beta of 0.59. Precision Drilling has a 12-month low of C$75.94 and a 12-month high of C$143.81. The company’s fifty day simple moving average is C$121.41 and its 200 day simple moving average is C$121.56. The company has a quick ratio of 1.36, a current ratio of 1.46 and a debt-to-equity ratio of 43.54.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings results on Wednesday, July 29th. The company reported C($0.52) EPS for the quarter. Precision Drilling had a negative return on equity of 2.03% and a negative net margin of 1.71%. The company had revenue of C$452.80 million during the quarter.

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.