Precision Drilling (TSE:PD) Receives “Buy” Rating from Tudor Pickering

Precision Drilling (TSE:PD) (NYSE:PDS)‘s stock had its “buy” rating reaffirmed by analysts at Tudor Pickering in a research note issued on Friday, PriceTargets.com reports.

A number of other equities analysts have also recently commented on the company. CIBC reiterated a “neutral” rating and set a C$60.00 price target on shares of Precision Drilling in a report on Thursday, July 22nd. Citigroup reaffirmed a “hold” rating on shares of Precision Drilling in a research report on Wednesday, September 15th. Royal Bank of Canada upped their price objective on shares of Precision Drilling from C$62.00 to C$65.00 and gave the company an “outperform” rating in a report on Friday, July 23rd. Canaccord Genuity raised shares of Precision Drilling from a “hold” rating to a “buy” rating and reduced their target price for the stock from C$54.00 to C$50.00 in a report on Tuesday, August 24th. Finally, BMO Capital Markets increased their price target on shares of Precision Drilling from C$45.00 to C$55.00 and gave the company a “na” rating in a report on Thursday, June 10th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$53.62.

PD traded up C$1.79 during trading hours on Friday, hitting C$46.10. 174,177 shares of the company’s stock were exchanged, compared to its average volume of 129,621. The stock has a market cap of C$613.31 million and a price-to-earnings ratio of -3.50. Precision Drilling has a 1-year low of C$15.80 and a 1-year high of C$54.72. The stock’s 50-day moving average is C$41.36 and its two-hundred day moving average is C$39.12. The company has a quick ratio of 1.50, a current ratio of 1.64 and a debt-to-equity ratio of 93.98.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its earnings results on Thursday, July 22nd. The company reported C($5.71) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($4.55) by C($1.16). The company had revenue of C$201.36 million during the quarter, compared to analyst estimates of C$207.50 million. On average, equities research analysts anticipate that Precision Drilling will post -3.8800005 EPS for the current year.

About Precision Drilling

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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Analyst Recommendations for Precision Drilling (TSE:PD)

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