Precision Drilling (TSE:PD) Hits New 1-Year High on Analyst Upgrade

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) reached a new 52-week high during mid-day trading on Monday after Canadian Imperial Bank of Commerce raised their price target on the stock from C$140.00 to C$150.00. The stock traded as high as C$138.99 and last traded at C$137.50, with a volume of 54932 shares changing hands. The stock had previously closed at C$135.53.

Several other equities research analysts also recently commented on the company. TD Securities lifted their price objective on Precision Drilling from C$118.00 to C$123.00 in a report on Thursday, February 12th. BMO Capital Markets raised their price target on shares of Precision Drilling from C$120.00 to C$150.00 in a report on Thursday, February 12th. ATB Cormark Capital Markets lifted their price target on shares of Precision Drilling from C$135.00 to C$160.00 and gave the stock an “outperform” rating in a research note on Monday. Royal Bank Of Canada boosted their price objective on shares of Precision Drilling from C$124.00 to C$140.00 and gave the company an “outperform” rating in a report on Monday. Finally, National Bank Financial raised their target price on shares of Precision Drilling from C$120.00 to C$140.00 and gave the stock a “sector perform” rating in a report on Friday, February 13th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Precision Drilling presently has a consensus rating of “Moderate Buy” and an average target price of C$143.71.

Precision Drilling Price Performance

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 firm has a market cap of C$1.82 billion, a P/E ratio of 1,002.21, a PEG ratio of -3.24 and a beta of 1.09. The stock’s 50-day simple moving average is C$117.95 and its two-hundred day simple moving average is C$97.20.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings results on Thursday, February 12th. The company reported C($6.50) earnings per share (EPS) for the quarter. The firm had revenue of C$478.51 million during 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.