Precision Drilling Co. (PD) Given Average Recommendation of “Buy” by Analysts
Precision Drilling Co. (TSE:PD) (NYSE:PDS) has earned a consensus rating of “Buy” from the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$5.58.
A number of equities research analysts have recently weighed in on the stock. Citigroup cut their target price on shares of Precision Drilling from C$4.25 to C$4.00 in a research note on Friday, November 17th. Canaccord Genuity cut their target price on shares of Precision Drilling from C$4.25 to C$3.75 in a research note on Monday, October 30th. CIBC cut their target price on shares of Precision Drilling from C$8.00 to C$7.00 in a research note on Friday, October 20th. TD Securities reaffirmed a “buy” rating and set a C$6.00 target price on shares of Precision Drilling in a research note on Tuesday, September 12th. Finally, Deutsche Bank reaffirmed a “hold” rating and set a C$4.00 target price on shares of Precision Drilling in a research note on Tuesday, October 10th.
Shares of Precision Drilling (PD) traded up C$0.04 during trading on Tuesday, reaching C$4.18. 2,737,772 shares of the company’s stock were exchanged, compared to its average volume of 2,955,087. The company has a market cap of $1,240.00, a price-to-earnings ratio of -10.72 and a beta of 1.43. Precision Drilling has a 1-year low of C$2.89 and a 1-year high of C$7.94.
About Precision Drilling
Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.
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