TD Securities Issues Pessimistic Forecast for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD) (NYSE:PDS) had its price objective lowered by TD Securities from C$100.00 to C$89.00 in a research report report published on Friday morning,BayStreet.CA reports. The firm currently has a hold rating on the stock.

A number of other equities research analysts have also issued reports on the company. Royal Bank of Canada dropped their price target on Precision Drilling from C$121.00 to C$110.00 in a research report on Friday. CIBC cut their target price on Precision Drilling from C$125.00 to C$115.00 in a research note on Friday. Raymond James lowered their price target on shares of Precision Drilling from C$146.00 to C$141.00 in a research report on Friday. Finally, ATB Capital raised their price objective on shares of Precision Drilling from C$109.00 to C$123.00 in a research report on Tuesday, December 10th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Precision Drilling has a consensus rating of “Buy” and an average target price of C$119.00.

Precision Drilling Stock Performance

TSE:PD opened at C$77.47 on Friday. Precision Drilling has a twelve month low of C$76.50 and a twelve month high of C$109.20. The company has a market cap of C$1.10 billion, a P/E ratio of 4.56, a P/E/G ratio of -3.24 and a beta of 2.76. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98. The company’s 50-day moving average price is C$86.94 and its 200-day moving average price is C$89.07.

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.