Precision Drilling (TSE:PD) Price Target Cut to C$130.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective trimmed by BMO Capital Markets from C$140.00 to C$130.00 in a report released on Friday morning, BayStreet.CA reports.

A number of other analysts have also issued reports on the company. Royal Bank of Canada lifted their price target on Precision Drilling from C$122.00 to C$125.00 and gave the stock an outperform rating in a research note on Thursday, August 1st. TD Securities upped their target price on shares of Precision Drilling from C$115.00 to C$140.00 and gave the stock a buy rating in a report on Thursday, August 1st. CIBC increased their target price on shares of Precision Drilling from C$130.00 to C$140.00 and gave the company an outperform rating in a research report on Wednesday, July 31st. Raymond James boosted their price target 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. Finally, ATB Capital cut their price objective on shares of Precision Drilling from C$123.00 to C$113.00 in a report on Monday, September 23rd. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of C$129.00.

Precision Drilling Stock Performance

Precision Drilling has a 52-week low of C$67.46 and a 52-week high of C$109.20. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37. The firm’s 50 day moving average price is C$92.41 and its two-hundred day moving average price is C$94.73. The firm has a market capitalization of C$1.26 billion, a price-to-earnings ratio of 5.49, a PEG ratio of -3.24 and a beta of 2.80.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$1.44 EPS for the quarter, beating the consensus estimate of C($0.85) by C$2.29. The company had revenue of C$429.21 million for the quarter, compared to analyst estimates of C$423.50 million. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%. Research analysts predict that Precision Drilling will post 11.3888131 earnings per share for the current fiscal year.

Insider Activity at Precision Drilling

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

About Precision Drilling

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.