Precision Drilling (TSE:PD) Reaches New 12-Month High – Still a Buy?

Precision Drilling Co. (TSE:PD) (NYSE:PDS) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$98.80 and last traded at C$98.80, with a volume of 27835 shares changing hands. The stock had previously closed at C$96.55.

Analyst Upgrades and Downgrades

PD has been the subject of a number of recent analyst reports. CIBC upped their price objective on shares of Precision Drilling from C$100.00 to C$110.00 in a research report on Wednesday, October 15th. Royal Bank Of Canada boosted their target price on Precision Drilling from C$110.00 to C$117.00 and gave the company an “outperform” rating in a research note on Friday, October 24th. Raymond James Financial raised their price target on Precision Drilling from C$132.00 to C$133.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Atb Cap Markets upgraded Precision Drilling to a “strong-buy” rating in a research report on Thursday, October 30th. Finally, ATB Capital set a C$120.00 target price on shares of Precision Drilling and gave the stock an “outperform” rating in a report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$107.14.

Precision Drilling Price Performance

The firm has a market capitalization of C$1.30 billion, a price-to-earnings ratio of 23.70, a PEG ratio of -3.24 and a beta of 1.22. The business’s fifty day simple moving average is C$87.30 and its 200 day simple moving average is C$79.10. The company has a debt-to-equity ratio of 51.98, a current ratio of 1.54 and a quick ratio of 1.36.

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

About Precision Drilling

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.