Raymond James Lowers Precision Drilling (TSE:PD) Price Target to C$142.00

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price cut by Raymond James from C$143.00 to C$142.00 in a research note released on Tuesday morning, BayStreet.CA reports. Raymond James also issued estimates for Precision Drilling’s FY2024 earnings at $9.12 EPS, FY2025 earnings at $17.32 EPS and FY2026 earnings at $19.45 EPS.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada upped their target price on shares of Precision Drilling from C$122.00 to C$125.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. ATB Capital lowered their price objective on Precision Drilling from C$123.00 to C$113.00 in a research note on Monday, September 23rd. CIBC lifted their target price on Precision Drilling from C$130.00 to C$140.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. BMO Capital Markets lowered their price target on Precision Drilling from C$140.00 to C$130.00 in a research report on Friday, October 4th. Finally, TD Securities dropped their price objective on Precision Drilling from C$140.00 to C$120.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$126.90.

Precision Drilling Stock Performance

Shares of Precision Drilling stock opened at C$83.51 on Tuesday. The company has a market cap of C$1.18 billion, a P/E ratio of 5.21, a PEG ratio of -3.24 and a beta of 2.76. The company has a current ratio of 1.51, a quick ratio of 1.36 and a debt-to-equity ratio of 56.37. The business has a 50-day moving average price of C$90.23 and a two-hundred day moving average price of C$94.39. Precision Drilling has a 1-year low of C$67.46 and a 1-year high of C$109.20.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings data on Tuesday, July 30th. The company reported C$1.44 earnings per share for the quarter, beating the consensus estimate of C($0.85) by C$2.29. The company had revenue of C$429.21 million during the quarter, compared to analyst estimates of C$423.50 million. Precision Drilling had a net margin of 11.71% and a return on equity of 15.01%.

Insider Activity

In other news, Director David Williams sold 3,500 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of C$100.01, for a total transaction of C$350,035.00. In other Precision Drilling news, Director David Williams sold 3,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$100.01, for a total transaction of C$350,035.00. Also, Senior Officer Veronica H. Foley sold 5,335 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of C$99.49, for a total value of C$530,779.18. Company insiders own 2.12% of the company’s stock.

Precision Drilling Company Profile

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 through Contract Drilling Services and Completion and Production Services segments.