Precision Drilling (TSE:PD) Receives “Neutral” Rating from CIBC

Precision Drilling (TSE:PD) (NYSE:PDS)‘s stock had its “neutral” rating restated by equities research analysts at CIBC in a research report issued on Thursday, Stock Target Advisor reports. They currently have a C$60.00 price target on the stock. CIBC’s price target would indicate a potential upside of 40.48% from the company’s previous close.

PD has been the topic of a number of other research reports. Tudor Pickering & Holt restated a “hold” rating on shares of Precision Drilling in a research note on Thursday. Canaccord Genuity raised their price target on Precision Drilling from C$38.00 to C$40.00 and gave the stock a “buy” rating in a research note on Friday, May 21st. Tudor Pickering restated a “hold” rating on shares of Precision Drilling in a research note on Thursday. TD Securities raised their price target on Precision Drilling from C$40.00 to C$50.00 and gave the stock a “na” rating in a research note on Monday, June 7th. Finally, BMO Capital Markets raised their price target on Precision Drilling from C$45.00 to C$55.00 and gave the stock a “na” rating in a research note on Thursday, June 10th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Precision Drilling has an average rating of “Buy” and an average target price of C$45.86.

Shares of PD traded down C$0.18 during mid-day trading on Thursday, reaching C$42.71. The company’s stock had a trading volume of 202,329 shares, compared to its average volume of 144,057. Precision Drilling has a 12-month low of C$15.80 and a 12-month high of C$54.72. The firm has a market capitalization of C$568.21 million and a PE ratio of -3.86. The company has a current ratio of 1.99, a quick ratio of 1.84 and a debt-to-equity ratio of 91.78. The firm’s 50 day moving average price is C$44.69.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings results on Thursday, April 22nd. The company reported C($2.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C($2.83) by C$0.13. The firm had revenue of C$236.47 million for the quarter, compared to analysts’ expectations of C$233.25 million. Sell-side analysts forecast that Precision Drilling will post -4.5100005 EPS for the current fiscal year.

Precision Drilling Company Profile

Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related products and services in North America and the Middle East. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

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