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

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price decreased by analysts at ATB Capital from C$123.00 to C$113.00 in a research note issued on Monday, BayStreet.CA reports. ATB Capital’s price target indicates a potential upside of 28.19% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. Raymond James lifted their price objective on shares of Precision Drilling from C$136.00 to C$143.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 1st. Royal Bank of Canada lifted 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. CIBC boosted their price target on shares of Precision Drilling from C$130.00 to C$140.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. TD Securities upped their price target on shares of Precision Drilling from C$115.00 to C$140.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, BMO Capital Markets upped their price target on shares of Precision Drilling from C$135.00 to C$140.00 and gave the stock an “outperform” rating in a research 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$130.00.

Precision Drilling Stock Up 0.2 %

PD stock opened at C$88.15 on Monday. Precision Drilling has a twelve month low of C$67.46 and a twelve month 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 company has a market capitalization of C$1.24 billion, a P/E ratio of 5.50, a PEG ratio of -3.24 and a beta of 2.80. The firm has a 50 day simple moving average of C$94.79 and a 200-day simple moving average of C$94.69.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings results on Tuesday, July 30th. The company reported C$1.44 earnings per share for the quarter, topping analysts’ consensus estimates of C($0.85) by C$2.29. Precision Drilling had a net margin of 11.71% and a return on equity of 15.01%. The business had revenue of C$429.21 million during the quarter, compared to the consensus estimate of C$423.50 million. On average, equities research analysts predict that Precision Drilling will post 12.8202568 earnings per share for the current fiscal year.

Insider Activity

In other news, Senior Officer Veronica H. Foley sold 5,335 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$99.49, for a total value of C$530,779.18. In related news, Senior Officer Veronica H. Foley sold 5,335 shares of the stock in a transaction that occurred 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. Also, Director David Williams sold 3,500 shares of the 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 value of C$350,035.00. 2.12% of the stock is owned by corporate insiders.

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.