Precision Drilling (TSE:PD) Stock Price Expected to Rise, Canadian Imperial Bank of Commerce Analyst Says

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price increased by analysts at Canadian Imperial Bank of Commerce from C$140.00 to C$150.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price would indicate a potential upside of 6.45% from the stock’s previous close.

Several other analysts have also weighed in on PD. BMO Capital Markets boosted 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 target price on Precision Drilling from C$131.00 to C$143.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. National Bank Financial boosted their price target on Precision Drilling from C$120.00 to C$140.00 and gave the company a “sector perform” rating in a report on Friday, February 13th. Royal Bank Of Canada upped their price target on Precision Drilling from C$124.00 to C$140.00 and gave the company an “outperform” rating in a research report on Monday. Finally, TD Securities raised their price objective on Precision Drilling from C$118.00 to C$123.00 in a research note on Thursday, February 12th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$143.71.

Precision Drilling Trading Up 0.4%

TSE PD opened at C$140.91 on Tuesday. The company has a market capitalization of C$1.82 billion, a price-to-earnings ratio of 1,006.50, a price-to-earnings-growth ratio of -3.24 and a beta of 1.09. The company has a debt-to-equity ratio of 49.96, a current ratio of 1.62 and a quick ratio of 1.36. Precision Drilling has a 12 month low of C$51.38 and a 12 month high of C$142.08. The company’s fifty day moving average price is C$118.69 and its two-hundred day moving average price is C$97.50.

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

About Precision Drilling

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.