Precision Drilling Co. (TSE:PD) Given Average Recommendation of “Buy” by Analysts

Precision Drilling Co. (TSE:PD) (NYSE:PDS) has been given a consensus rating of “Buy” by the nine brokerages that are presently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$124.00.

PD has been the subject of several research reports. ATB Capital raised their target price on Precision Drilling from C$125.00 to C$126.00 in a research report on Monday, April 8th. Royal Bank of Canada reduced their target price on Precision Drilling from C$125.00 to C$122.00 in a research report on Friday, January 12th. Stifel Nicolaus reduced their target price on Precision Drilling from C$120.00 to C$115.00 and set a “buy” rating for the company in a research report on Wednesday, February 7th. BMO Capital Markets lifted their price objective on Precision Drilling from C$125.00 to C$130.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Finally, TD Securities cut their price objective on Precision Drilling from C$125.00 to C$115.00 and set a “buy” rating for the company in a report on Wednesday, February 7th.

Precision Drilling Trading Down 2.4 %

TSE:PD opened at C$95.04 on Tuesday. Precision Drilling has a 52 week low of C$56.42 and a 52 week high of C$104.90. The company has a debt-to-equity ratio of 62.97, a quick ratio of 1.36 and a current ratio of 1.40. The stock’s 50 day moving average price is C$88.35 and its 200 day moving average price is C$81.61. The company has a market capitalization of C$1.38 billion, a P/E ratio of 4.87, a P/E/G ratio of -3.24 and a beta of 2.92.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its quarterly earnings results on Tuesday, February 6th. The company reported C$4.70 EPS for the quarter, beating the consensus estimate of C$2.82 by C$1.88. The company had revenue of C$506.87 million for the quarter, compared to the consensus estimate of C$476.00 million. Precision Drilling had a return on equity of 20.61% and a net margin of 14.93%. On average, research analysts forecast that Precision Drilling will post 8.6166667 EPS for the current fiscal year.

Insider Activity at Precision Drilling

In related news, Senior Officer Veronica H. Foley sold 1,763 shares of Precision Drilling stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total value of C$109,711.49. In other Precision Drilling news, Director Carey Thomas Ford sold 7,976 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total value of C$496,346.48. Also, Senior Officer Veronica H. Foley sold 1,763 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of C$62.23, for a total value of C$109,711.49. Insiders sold 21,373 shares of company stock valued at $1,329,227 over the last ninety days. 1.32% of the stock is owned by insiders.

About Precision Drilling

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.