Precision Drilling (PD) Price Target Raised to C$6.50

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective increased by equities research analysts at GMP Securities from C$5.75 to C$6.50 in a report released on Thursday. GMP Securities’ price objective points to a potential upside of 46.07% from the stock’s previous close.

A number of other research analysts also recently commented on PD. Royal Bank of Canada lowered their price objective on shares of Precision Drilling from C$7.00 to C$6.00 and set an “outperform” rating on the stock in a research report on Friday, October 6th. Deutsche Bank reiterated a “hold” rating and issued a C$4.00 target price on shares of Precision Drilling in a research note on Tuesday, October 10th. CIBC reduced their target price on shares of Precision Drilling from C$8.00 to C$7.00 in a research note on Friday, October 20th. BMO Capital Markets reiterated an “outperform” rating and issued a C$6.00 target price on shares of Precision Drilling in a research note on Monday, October 30th. Finally, Canaccord Genuity reduced their target price on shares of Precision Drilling from C$4.25 to C$3.75 in a research note on Monday, October 30th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Precision Drilling currently has an average rating of “Buy” and an average price target of C$5.68.

Shares of Precision Drilling (TSE PD) traded up C$0.04 on Thursday, reaching C$4.45. 1,988,453 shares of the company were exchanged, compared to its average volume of 3,339,013. Precision Drilling has a 52-week low of C$2.89 and a 52-week high of C$7.94. The stock has a market capitalization of $1,330.00, a P/E ratio of -11.41 and a beta of 1.43.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings data on Friday, October 27th. The company reported C($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of C($0.12) by C$0.03. Precision Drilling had a negative net margin of 8.36% and a negative return on equity of 5.62%.

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Precision Drilling Company Profile

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.

Analyst Recommendations for Precision Drilling (TSE:PD)

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