Precision Drilling (TSE:PD) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$80.15 and traded as high as C$82.89. Precision Drilling shares last traded at C$81.02, with a volume of 66,711 shares trading hands.

Analyst Ratings Changes

PD has been the topic of several analyst reports. Royal Bank Of Canada lifted their price target on shares of Precision Drilling from C$110.00 to C$117.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. Raymond James Financial boosted their target price on Precision Drilling from C$132.00 to C$133.00 and gave the stock an “outperform” rating in a research note on Friday, October 24th. Atb Cap Markets upgraded Precision Drilling to a “strong-buy” rating in a research note on Thursday, October 30th. TD Securities raised their price target on Precision Drilling from C$77.00 to C$80.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Finally, CIBC upped their price objective on shares of Precision Drilling from C$100.00 to C$110.00 in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$102.00.

Precision Drilling Stock Performance

The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. The firm’s fifty day moving average is C$80.26 and its 200 day moving average is C$73.00. The company has a market cap of C$1.08 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of -3.24 and a beta of 1.23.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its earnings results on Wednesday, October 22nd. The company reported C($0.51) earnings per share (EPS) for the quarter. The company had revenue of C$462.25 million during the quarter. Precision Drilling had a net margin of 12.53% and a return on equity of 14.96%.

Precision Drilling Company Profile

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.