Canadian Imperial Bank of Commerce Cuts Precision Drilling (TSE:PD) Price Target to C$155.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target cut by Canadian Imperial Bank of Commerce from C$160.00 to C$155.00 in a research report report published on Thursday,BayStreet.CA reports.

Other research analysts have also recently issued reports about the stock. National Bank Financial boosted their price target on shares of Precision Drilling from C$140.00 to C$150.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. TD decreased their price objective on shares of Precision Drilling from C$130.00 to C$124.00 and set a “hold” rating for the company in a research note on Monday, July 13th. Royal Bank Of Canada lifted their target price on shares of Precision Drilling from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 14th. Raymond James Financial boosted their target price on Precision Drilling from C$162.00 to C$165.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Finally, BMO Capital Markets upped their target price on Precision Drilling from C$160.00 to C$165.00 in a report on Thursday, April 30th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$148.00.

Precision Drilling Price Performance

PD stock opened at C$109.00 on Thursday. The company has a debt-to-equity ratio of 43.54, a quick ratio of 1.36 and a current ratio of 1.46. The business has a 50-day simple moving average of C$119.09 and a two-hundred day simple moving average of C$121.34. The company has a market capitalization of C$1.40 billion, a P/E ratio of -46.19, a price-to-earnings-growth ratio of -3.24 and a beta of 0.42. Precision Drilling has a 52-week low of C$72.87 and a 52-week high of C$143.81.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its quarterly earnings data on Wednesday, July 29th. The company reported C($0.52) EPS for the quarter. The company had revenue of C$452.80 million during the quarter. Precision Drilling had a negative return on equity of 2.03% and a negative net margin of 1.71%.

About Precision Drilling

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha¿ that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen¿ suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations.