Precision Drilling (TSE:PD) Upgraded to Outperform at National Bank Financial

Precision Drilling (TSE:PD) (NYSE:PDS) was upgraded by equities research analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a report issued on Monday, BayStreet reports. The brokerage presently has a C$185.00 price target on the stock, up from their previous price target of C$150.00. National Bank Financial‘s price objective indicates a potential upside of 33.58% from the company’s current price.

Several other research firms have also recently issued reports on PD. Canadian Imperial Bank of Commerce cut their target price on Precision Drilling from C$160.00 to C$155.00 in a research note on Thursday, July 30th. ATB Cormark Capital Markets decreased their target price on Precision Drilling from C$165.00 to C$160.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. TD Securities raised Precision Drilling from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 20th. Finally, TD raised Precision Drilling from a “hold” rating to a “buy” rating and raised their price target for the stock from C$116.00 to C$150.00 in a research note on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, Precision Drilling presently has an average rating of “Buy” and a consensus price target of C$156.62.

Precision Drilling Trading Up 5.2%

Shares of TSE:PD traded up C$6.80 during trading on Monday, reaching C$138.49. 95,508 shares of the company traded hands, compared to its average volume of 84,813. The firm has a market capitalization of C$1.74 billion, a price-to-earnings ratio of -58.68, a P/E/G ratio of -3.24 and a beta of 0.59. Precision Drilling has a 52-week low of C$78.76 and a 52-week high of C$143.81. The company has a current ratio of 1.46, a quick ratio of 1.36 and a debt-to-equity ratio of 43.54. The business’s fifty day moving average is C$122.18 and its 200-day moving average is C$121.51.

Precision Drilling (TSE:PD) (NYSE:PDS) last issued its earnings results on Wednesday, July 29th. The company reported C($0.52) EPS for the quarter. The firm 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.