BMO Capital Markets Forecasts Strong Price Appreciation for Precision Drilling (TSE:PD) Stock

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective lifted by analysts at BMO Capital Markets from C$120.00 to C$150.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential upside of 34.83% from the company’s current price.

Several other analysts also recently weighed in on PD. Canadian Imperial Bank of Commerce increased their target price on Precision Drilling from C$110.00 to C$120.00 in a research note on Tuesday, January 13th. 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. Raymond James Financial boosted 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. Royal Bank Of Canada raised their target price on shares of 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. Finally, TD Securities lifted their price target on Precision Drilling from C$80.00 to C$118.00 in a report on Monday, January 26th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$126.14.

Precision Drilling Price Performance

PD traded down C$11.26 during trading on Thursday, reaching C$111.25. The stock had a trading volume of 161,255 shares, compared to its average volume of 83,655. Precision Drilling has a 1-year low of C$51.38 and a 1-year high of C$122.65. The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98. The stock has a 50 day moving average of C$102.03 and a two-hundred day moving average of C$87.43. The firm has a market capitalization of C$1.44 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of -3.24 and a beta of 1.43.

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

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.