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

Precision Drilling Co. (TSE:PD) (NYSE:PDS) has received an average recommendation of “Buy” from the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$127.00.

A number of research analysts have recently weighed in on PD shares. TD Securities cut their price target on Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. ATB Capital dropped their price objective on Precision Drilling from C$123.00 to C$113.00 in a research note on Monday, September 23rd. Royal Bank of Canada raised their price objective 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. CIBC raised their price objective on Precision Drilling from C$130.00 to C$140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Raymond James raised their price objective on Precision Drilling from C$136.00 to C$143.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 1st.

Insiders Place Their Bets

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

Precision Drilling Price Performance

The company has a fifty day moving average of C$91.49 and a two-hundred day moving average of C$94.60. The company has a debt-to-equity ratio of 56.37, a quick ratio of 1.36 and a current ratio of 1.51. The firm has a market cap of C$1.23 billion, a P/E ratio of 5.39, a P/E/G ratio of -3.24 and a beta of 2.80. Precision Drilling has a 12 month low of C$67.46 and a 12 month high of C$109.20.

Precision Drilling (TSE:PD) (NYSE:PDS) last posted its quarterly earnings results on Tuesday, July 30th. The company reported C$1.44 earnings per share for the quarter, beating analysts’ consensus estimates of C($0.85) by C$2.29. The company had revenue of C$429.21 million for the quarter, compared to the consensus estimate of C$423.50 million. Precision Drilling had a return on equity of 15.01% and a net margin of 11.71%. Research analysts anticipate that Precision Drilling will post 11.3888131 earnings per share for the current fiscal year.

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.