Raymond James Financial Forecasts Strong Price Appreciation for Precision Drilling (TSE:PD) Stock

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target lifted by equities research analysts at Raymond James Financial from C$143.00 to C$158.00 in a report released on Monday,BayStreet.CA reports. Raymond James Financial’s price target would indicate a potential upside of 14.45% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. National Bank Financial increased their price objective on shares of Precision Drilling from C$120.00 to C$140.00 and gave the company a “sector perform” rating in a report on Friday, February 13th. Canadian Imperial Bank of Commerce lifted their target price on Precision Drilling from C$140.00 to C$150.00 in a report on Tuesday, March 24th. Royal Bank Of Canada boosted their target price on Precision Drilling from C$124.00 to C$140.00 and gave the stock an “outperform” rating in a research report on Monday, March 23rd. ATB Cormark Capital Markets increased their price target on Precision Drilling from C$135.00 to C$160.00 and gave the company an “outperform” rating in a research note on Monday, March 23rd. Finally, TD Securities lifted their price objective on Precision Drilling from C$118.00 to C$123.00 in a research note on Thursday, February 12th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$145.86.

Precision Drilling Price Performance

Shares of Precision Drilling stock traded down C$2.04 on Monday, hitting C$138.05. 50,260 shares of the company traded hands, compared to its average volume of 92,091. Precision Drilling has a 52 week low of C$51.38 and a 52 week high of C$143.81. The business has a 50-day simple moving average of C$120.17 and a 200 day simple moving average of C$98.51. The company has a debt-to-equity ratio of 49.96, a quick ratio of 1.36 and a current ratio of 1.62. The stock has a market capitalization of C$1.79 billion, a P/E ratio of 986.07, a price-to-earnings-growth ratio of -3.24 and a beta of 1.09.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its earnings results on Thursday, February 12th. The company reported C($6.50) earnings per share for the quarter. The company had revenue of C$478.51 million for the quarter. Precision Drilling had a return on equity of 0.11% and a net margin of 0.10%.

About Precision Drilling

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.