ATB Cormark Capital Markets Issues Positive Forecast for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective boosted by analysts at ATB Cormark Capital Markets from C$170.00 to C$190.00 in a research note issued on Thursday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. ATB Cormark Capital Markets‘s price objective suggests a potential upside of 27.52% from the company’s previous close.

PD has been the subject of several other research reports. TD Securities upgraded shares of Precision Drilling from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 20th. TD upped their target price on shares of Precision Drilling from C$150.00 to C$182.00 and gave the company a “buy” rating in a research note on Thursday. National Bank Financial raised shares of Precision Drilling from a “hold” rating to an “outperform” rating and boosted their price target for the company from C$150.00 to C$185.00 in a report on Monday. Finally, Canadian Imperial Bank of Commerce dropped their price objective on Precision Drilling from C$160.00 to C$155.00 in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$165.62.

Precision Drilling Price Performance

TSE:PD traded up C$1.35 during mid-day trading on Thursday, reaching C$149.00. 175,030 shares of the company were exchanged, compared to its average volume of 86,247. Precision Drilling has a 12 month low of C$78.76 and a 12 month high of C$157.05. The stock has a market cap of C$1.88 billion, a PE ratio of -63.14, a PEG ratio of -3.24 and a beta of 0.59. The company has a quick ratio of 1.36, a current ratio of 1.46 and a debt-to-equity ratio of 43.54. The company has a fifty day moving average of C$123.29 and a 200 day moving average of C$121.32.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings data on Wednesday, October 28th. The company reported C$1.65 earnings per share for the quarter. The firm had revenue of C$531.65 million during the quarter. Precision Drilling had a negative net margin of 1.71% and a negative return on equity of 2.03%.

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.