Precision Drilling (TSE:PD) Given New C$110.00 Price Target at Royal Bank of Canada

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target cut by Royal Bank of Canada from C$121.00 to C$110.00 in a report published on Friday morning,BayStreet.CA reports.

A number of other analysts have also issued reports on PD. ATB Capital boosted their price objective on Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. TD Securities downgraded shares of Precision Drilling from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$120.00 to C$100.00 in a report on Monday, February 3rd. Finally, Raymond James reduced their price objective on shares of Precision Drilling from C$146.00 to C$141.00 in a research note on Friday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$119.00.

Precision Drilling Stock Down 2.0 %

PD opened at C$77.47 on Friday. The company has a 50 day moving average of C$86.94 and a 200 day moving average of C$89.07. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. Precision Drilling has a 12 month low of C$76.50 and a 12 month high of C$109.20. The company has a market cap of C$1.10 billion, a PE ratio of 4.56, a price-to-earnings-growth ratio of -3.24 and a beta of 2.76.

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.