Royal Bank of Canada Issues Pessimistic Forecast for Precision Drilling (TSE:PD) Stock Price

Precision Drilling (TSE:PD) (NYSE:PDS) had its price target reduced by research analysts at Royal Bank of Canada from C$121.00 to C$110.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s price objective would suggest a potential upside of 41.33% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Raymond James reduced their target price on Precision Drilling from C$146.00 to C$141.00 in a report on Friday. TD Securities cut Precision Drilling from a “buy” rating to a “hold” rating and reduced their target price for the stock from C$120.00 to C$100.00 in a report on Monday, February 3rd. Finally, ATB Capital raised their target price on Precision Drilling from C$109.00 to C$123.00 in a report on Tuesday, December 10th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Precision Drilling presently has a consensus rating of “Buy” and an average price target of C$119.00.

Precision Drilling Trading Down 1.5 %

Precision Drilling stock traded down C$1.21 during mid-day trading on Friday, hitting C$77.83. The stock had a trading volume of 127,621 shares, compared to its average volume of 111,976. The stock has a 50-day simple moving average of C$87.20 and a two-hundred day simple moving average of C$89.40. The stock has a market capitalization of C$1.11 billion, a PE ratio of 4.58, a P/E/G ratio of -3.24 and a beta of 2.76. Precision Drilling has a 12 month low of C$76.50 and a 12 month high of C$109.20. The company has a current ratio of 1.54, a quick ratio of 1.36 and a debt-to-equity ratio of 51.98.

About Precision Drilling

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.