TD Securities Trims Precision Drilling (TSE:PD) Target Price to C$120.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price trimmed by TD Securities from C$140.00 to C$120.00 in a research report report published on Tuesday morning, BayStreet.CA reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently issued reports on PD. BMO Capital Markets lowered their target price on shares of Precision Drilling from C$140.00 to C$130.00 in a research note on Friday, October 4th. Raymond James increased their price objective on shares of Precision Drilling from C$136.00 to C$143.00 and gave the company a strong-buy rating in a research report on Thursday, August 1st. CIBC lifted their target price on shares of Precision Drilling from C$130.00 to C$140.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. ATB Capital decreased their target price on shares of Precision Drilling from C$123.00 to C$113.00 in a research note on Monday, September 23rd. Finally, Royal Bank of Canada raised their price target on Precision Drilling from C$122.00 to C$125.00 and gave the stock an outperform rating in a research note on Thursday, August 1st. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of C$127.00.

Precision Drilling Price Performance

Shares of TSE PD opened at C$86.28 on Tuesday. The firm has a market cap of C$1.22 billion, a P/E ratio of 5.39, a PEG ratio of -3.24 and a beta of 2.80. Precision Drilling has a twelve month low of C$67.46 and a twelve month high of C$109.20. The company has a quick ratio of 1.36, a current ratio of 1.51 and a debt-to-equity ratio of 56.37. The company has a 50 day moving average of C$91.49 and a 200 day moving average of C$94.60.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its earnings results on Tuesday, July 30th. The company reported C$1.44 EPS for the quarter, topping analysts’ consensus estimates of C($0.85) by C$2.29. The business had revenue of C$429.21 million during the quarter, compared to analyst estimates of C$423.50 million. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%. As a group, research analysts expect that Precision Drilling will post 11.3888131 EPS for the current fiscal year.

Insider Buying and Selling at Precision Drilling

In other Precision Drilling news, Senior Officer Veronica H. Foley sold 5,335 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of C$99.49, for a total transaction of C$530,779.18. In related news, Senior Officer Veronica H. Foley sold 5,335 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$99.49, for a total value of C$530,779.18. Also, Director David Williams sold 3,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of C$100.01, for a total value of C$350,035.00. 2.12% of the stock is currently owned by corporate insiders.

Precision Drilling Company Profile

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates through Contract Drilling Services and Completion and Production Services segments.