Precision Drilling (TSE:PD) Upgraded at National Bank Financial

National Bank Financial upgraded shares of Precision Drilling (TSE:PD) (NYSE:PDS) from a hold rating to an outperform rating in a research note released on Monday morning, Marketbeat Ratings reports. National Bank Financial currently has C$185.00 target price on the stock, up from their previous target price of C$150.00.

PD has been the subject of several other reports. ATB Cormark Capital Markets dropped their target price on shares of Precision Drilling from C$165.00 to C$160.00 and set an “outperform” rating for the company in a research report on Thursday, July 30th. Canadian Imperial Bank of Commerce decreased their price target on shares of Precision Drilling from C$160.00 to C$155.00 in a report on Thursday, July 30th. TD Securities raised shares of Precision Drilling from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 20th. Finally, TD upgraded shares of Precision Drilling from a “hold” rating to a “buy” rating and raised their price objective for the company from C$116.00 to C$150.00 in a research report on Tuesday, October 20th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$156.62.

Precision Drilling Stock Performance

Shares of PD opened at C$147.65 on Monday. Precision Drilling has a 12-month low of C$78.76 and a 12-month high of C$148.65. The company has a current ratio of 1.46, a quick ratio of 1.36 and a debt-to-equity ratio of 43.54. The company has a market cap of C$1.86 billion, a PE ratio of -62.56, a price-to-earnings-growth ratio of -3.24 and a beta of 0.59. The stock has a 50-day moving average price of C$123.29 and a 200-day moving average price 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 company had revenue of C$531.65 million for the quarter. Precision Drilling had a negative net margin of 1.71% and a negative return on equity of 2.03%.

Precision Drilling Company Profile

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.