Precision Drilling (TSE:PD) Sets New 1-Year High – Time to Buy?

Precision Drilling Co. (TSE:PD) (NYSE:PDS)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$106.53 and last traded at C$105.70, with a volume of 87288 shares trading hands. The stock had previously closed at C$102.22.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PD. Atb Cap Markets raised Precision Drilling to a “strong-buy” rating in a research note on Thursday, October 30th. Royal Bank Of Canada boosted their target price on shares of Precision Drilling from C$110.00 to C$117.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. CIBC boosted their target price on shares of Precision Drilling from C$110.00 to C$120.00 in a report on Tuesday, January 13th. National Bankshares raised their price target on shares of Precision Drilling from C$100.00 to C$120.00 and gave the company a “sector perform” rating in a research note on Friday, January 9th. Finally, Raymond James Financial lifted their price target on shares of Precision Drilling from C$132.00 to C$133.00 and gave the stock an “outperform” rating in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$111.43.

Precision Drilling Price Performance

The firm has a market cap of C$1.40 billion, a P/E ratio of 25.42, a P/E/G ratio of -3.24 and a beta of 1.30. The company has a quick ratio of 1.36, a current ratio of 1.54 and a debt-to-equity ratio of 51.98. The business’s 50 day moving average is C$93.21 and its two-hundred day moving average is C$82.86.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported C($0.51) earnings per share for the quarter. Precision Drilling had a return on equity of 14.96% and a net margin of 12.53%.The business had revenue of C$462.25 million for the quarter.

About Precision Drilling

Precision Drilling Corp is a leader in North American oil and gas services. It is a provider of contract drilling and completion and production services primarily to oil and natural gas exploration and production companies in Canada. Its segments are Contract Drilling Services which is the majority key revenue generator and other segments include Completion and Production Services.