Brokerages Set Precision Drilling Co. (PD) Price Target at $5.58
Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) have been assigned a consensus recommendation of “Buy” from the nine brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$5.58.
PD has been the subject of a number of analyst reports. Royal Bank of Canada decreased their price objective on shares of Precision Drilling from C$7.00 to C$6.00 and set an “outperform” rating for the company in a research report on Friday, October 6th. Deutsche Bank reiterated a “hold” rating and issued a C$4.00 price objective on shares of Precision Drilling in a research report on Tuesday, October 10th. CIBC decreased their price objective on shares of Precision Drilling from C$8.00 to C$7.00 in a research report on Friday, October 20th. BMO Capital Markets reiterated an “outperform” rating and issued a C$6.00 price objective on shares of Precision Drilling in a research report on Monday, October 30th. Finally, Canaccord Genuity decreased their price objective on shares of Precision Drilling from C$4.25 to C$3.75 in a research report on Monday, October 30th.
Shares of Precision Drilling (PD) traded up C$0.14 during trading on Tuesday, hitting C$4.63. 5,356,707 shares of the company’s stock were exchanged, compared to its average volume of 3,552,058. The firm has a market capitalization of $1,370.00, a P/E ratio of -11.87 and a beta of 1.43. Precision Drilling has a 1-year low of C$2.89 and a 1-year high of C$7.94.
About Precision Drilling
Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.
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