ATB Capital Cuts Precision Drilling (TSE:PD) Price Target to C$113.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective cut by ATB Capital from C$123.00 to C$113.00 in a report published on Monday morning, BayStreet.CA reports.

Several other equities research analysts have also recently weighed in on the company. CIBC upped their price target on Precision Drilling from C$130.00 to C$140.00 and gave the stock an outperform rating in a research note on Wednesday, July 31st. Raymond James upped their target price on shares of Precision Drilling from C$136.00 to C$143.00 and gave the stock a strong-buy rating in a research report on Thursday, August 1st. TD Securities lifted their price target on shares of Precision Drilling from C$115.00 to C$140.00 and gave the company a buy rating in a research report on Thursday, August 1st. Royal Bank of Canada upped their price objective on shares of Precision Drilling from C$122.00 to C$125.00 and gave the stock an outperform rating in a report on Thursday, August 1st. Finally, BMO Capital Markets lifted their target price on shares of Precision Drilling from C$135.00 to C$140.00 and gave the company an outperform rating in a report on Wednesday, July 31st. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Precision Drilling currently has a consensus rating of Buy and a consensus target price of C$130.00.

Precision Drilling Stock Performance

Shares of TSE PD opened at C$81.73 on Monday. Precision Drilling has a 1-year low of C$67.46 and a 1-year high of C$109.20. The stock has a market cap of C$1.15 billion, a price-to-earnings ratio of 5.10, a P/E/G ratio of -3.24 and a beta of 2.80. The stock’s 50-day moving average is C$94.01 and its 200 day moving average is C$94.67. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its earnings results on Tuesday, July 30th. The company reported C$1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of C($0.85) by C$2.29. The firm had revenue of C$429.21 million for the quarter, compared to analysts’ expectations of C$423.50 million. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%. On average, sell-side analysts anticipate that Precision Drilling will post 12.8202568 EPS for the current fiscal year.

Insider Transactions at Precision Drilling

In other Precision Drilling news, Senior Officer Veronica H. Foley sold 5,335 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$99.49, for a total transaction of C$530,779.18. In other news, Director David Williams sold 3,500 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$100.01, for a total transaction of C$350,035.00. Also, Senior Officer Veronica H. Foley sold 5,335 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of C$99.49, for a total value of C$530,779.18. Insiders own 2.12% of the company’s stock.

Precision Drilling Company Profile

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.