Precision Drilling Co. (TSE:PD) Receives Consensus Rating of “Buy” from Analysts

Shares of Precision Drilling Co. (TSE:PD) (NYSE:PDS) have received a consensus rating of “Buy” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$124.91.

PD has been the topic of a number of research analyst reports. ATB Capital increased their price objective on shares of Precision Drilling from C$125.00 to C$126.00 in a research note on Monday, April 8th. Raymond James reduced their price objective on shares of Precision Drilling from C$137.00 to C$132.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, February 7th. Stifel Nicolaus increased their price objective on shares of Precision Drilling from C$115.00 to C$125.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada reduced their price objective on shares of Precision Drilling from C$125.00 to C$122.00 in a research note on Friday, January 12th. Finally, CIBC raised their price target on shares of Precision Drilling from C$100.00 to C$110.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th.

Precision Drilling Price Performance

PD opened at C$91.79 on Tuesday. The company has a fifty day simple moving average of C$89.02 and a 200 day simple moving average of C$81.85. The firm has a market cap of C$1.33 billion, a price-to-earnings ratio of 4.70, a PEG ratio of -3.24 and a beta of 2.92. Precision Drilling has a twelve month low of C$56.42 and a twelve month high of C$104.90. The company has a current ratio of 1.40, a quick ratio of 1.36 and a debt-to-equity ratio of 62.97.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings results on Tuesday, February 6th. The company reported C$4.70 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.82 by C$1.88. The business had revenue of C$506.87 million during the quarter, compared to analyst estimates of C$476.00 million. Precision Drilling had a net margin of 14.93% and a return on equity of 20.61%. Equities research analysts expect that Precision Drilling will post 8.6166667 EPS for the current fiscal year.

Insider Transactions at Precision Drilling

In other news, Director Carey Thomas Ford sold 3,756 shares of Precision Drilling stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of C$62.16, for a total value of C$233,472.96. In other Precision Drilling news, Senior Officer Veronica H. Foley sold 1,763 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of C$62.23, for a total value of C$109,711.49. Also, Director Carey Thomas Ford sold 3,756 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of C$62.16, for a total transaction of C$233,472.96. Insiders have sold 21,373 shares of company stock valued at $1,329,227 in the last quarter. Insiders own 1.32% of the company’s stock.

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.