Precision Drilling (TSE:PD) Receives New Coverage from Analysts at Piper Sandler

Investment analysts at Piper Sandler began coverage on shares of Precision Drilling (TSE:PD – Get Rating) (NYSE:PDS) in a research report issued on Friday, Stock Target Advisor reports. The firm set a “buy” rating and a C$74.00 price target on the stock. Piper Sandler’s price target suggests a potential downside of 6.65% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. TD Securities raised their price target on shares of Precision Drilling from C$130.00 to C$135.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Stifel Nicolaus increased their target price on shares of Precision Drilling from C$145.00 to C$150.00 in a report on Thursday, July 28th. Raymond James dropped their target price on shares of Precision Drilling from C$130.00 to C$115.00 and set a “strong-buy” rating on the stock in a report on Wednesday, September 28th. Royal Bank of Canada increased their target price on shares of Precision Drilling from C$147.00 to C$156.00 in a report on Thursday, July 7th. Finally, CIBC increased their target price on shares of Precision Drilling from C$115.00 to C$120.00 in a report on Tuesday, August 2nd. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$112.15.

Precision Drilling Price Performance

Shares of PD stock traded down C$2.12 during mid-day trading on Friday, hitting C$79.27. The company had a trading volume of 33,354 shares, compared to its average volume of 114,281. Precision Drilling has a 52-week low of C$37.90 and a 52-week high of C$109.29. The stock’s 50-day moving average price is C$80.52 and its 200-day moving average price is C$85.65. The company has a debt-to-equity ratio of 101.68, a current ratio of 1.39 and a quick ratio of 1.30. The company has a market capitalization of C$1.08 billion and a P/E ratio of -5.87.

Precision Drilling (TSE:PD – Get Rating) (NYSE:PDS) last released its earnings results on Wednesday, July 27th. The company reported C($1.81) EPS for the quarter, topping the consensus estimate of C($2.21) by C$0.40. The company had revenue of C$326.02 million during the quarter, compared to analysts’ expectations of C$299.85 million. Equities research analysts forecast that Precision Drilling will post 11.5900002 earnings per share for the current year.

About Precision Drilling

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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 in two segments, Contract Drilling Services; and Completion and Production Services.

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Analyst Recommendations for Precision Drilling (TSE:PD)

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