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

Shares of Precision Drilling Corp (TSE:PD) (NYSE:PDS) have received a consensus recommendation of “Buy” from the eleven analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$3.62.

A number of research firms recently commented on PD. TD Securities raised Precision Drilling from a “buy” rating to an “action list buy” rating and decreased their price objective for the company from C$5.00 to C$4.50 in a research note on Wednesday, September 4th. Canaccord Genuity cut their target price on shares of Precision Drilling from C$3.50 to C$2.75 in a research note on Friday, August 16th. Citigroup lowered shares of Precision Drilling from a “buy” rating to a “neutral” rating and reduced their target price for the company from C$2.50 to C$1.90 in a report on Tuesday, October 1st. Raymond James reaffirmed a “strong-buy” rating and set a C$3.00 price target on shares of Precision Drilling in a research note on Thursday, November 14th. Finally, National Bank Financial lowered their price target on shares of Precision Drilling from C$3.00 to C$2.75 and set an “outperform” rating for the company in a report on Monday, November 25th.

TSE:PD traded up C$0.08 during trading hours on Friday, reaching C$1.47. 592,964 shares of the company traded hands, compared to its average volume of 1,411,820. The firm’s 50-day moving average is C$1.41 and its 200-day moving average is C$1.89. The stock has a market cap of $409.04 million and a P/E ratio of -2.27. The company has a debt-to-equity ratio of 101.91, a current ratio of 1.85 and a quick ratio of 1.66. Precision Drilling has a 1-year low of C$1.32 and a 1-year high of C$4.05.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings results on Thursday, October 24th. The company reported C($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of C($0.05) by C$0.04. The company had revenue of C$375.55 million during the quarter, compared to analyst estimates of C$381.29 million. As a group, research analysts predict that Precision Drilling will post -0.22 earnings per share for the current year.

Precision Drilling Company Profile

Precision Drilling Corporation, an oilfield services company, provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

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Analyst Recommendations for Precision Drilling (TSE:PD)

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