Precision Drilling (TSE:PD) Price Target Cut to C$115.00 by Analysts at CIBC

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective reduced by CIBC from C$125.00 to C$115.00 in a report published on Friday morning,BayStreet.CA reports.

A number of other brokerages also recently issued reports on PD. TD Securities downgraded Precision Drilling from a “buy” rating to a “hold” rating and cut their price objective for the company from C$120.00 to C$100.00 in a research note on Monday, February 3rd. Royal Bank of Canada dropped their price target on shares of Precision Drilling from C$121.00 to C$110.00 in a research report on Friday. Raymond James decreased their price objective on shares of Precision Drilling from C$146.00 to C$141.00 in a research report on Friday. Finally, ATB Capital upped their price objective on Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$119.00.

Precision Drilling Price Performance

Shares of Precision Drilling stock opened at C$77.47 on Friday. The stock’s fifty day moving average is C$86.94 and its 200 day moving average is C$89.07. Precision Drilling has a one year low of C$76.50 and a one year high of C$109.20. The company has a debt-to-equity ratio of 51.98, a quick ratio of 1.36 and a current ratio of 1.54. The stock has a market cap of C$1.10 billion, a P/E ratio of 4.56, a P/E/G ratio of -3.24 and a beta of 2.76.

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.