GMP Securities Increases Precision Drilling (PD) Price Target to C$6.50

Precision Drilling (TSE:PD) (NYSE:PDS) had its target price upped by GMP Securities from C$5.75 to C$6.50 in a research report released on Thursday.

A number of other brokerages have also recently commented on PD. Canaccord Genuity lowered their target price on Precision Drilling from C$4.25 to C$3.75 in a report on Monday, October 30th. BMO Capital Markets reiterated an outperform rating and set a C$6.00 target price on shares of Precision Drilling in a report on Monday, October 30th. Deutsche Bank reiterated a hold rating and set a C$4.00 target price on shares of Precision Drilling in a report on Tuesday, October 10th. Royal Bank of Canada lowered their target price on Precision Drilling from C$7.00 to C$6.00 and set an outperform rating on the stock in a report on Friday, October 6th. Finally, CIBC lowered their target price on Precision Drilling from C$8.00 to C$7.00 in a report on Friday, October 20th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of C$5.68.

Precision Drilling (TSE:PD) opened at C$4.69 on Thursday. Precision Drilling has a one year low of C$2.89 and a one year high of C$7.94. The firm has a market capitalization of $1,380.00, a P/E ratio of -12.03 and a beta of 1.43.

Precision Drilling (TSE:PD) (NYSE:PDS) last released its quarterly earnings data on Friday, October 27th. The company reported C($0.09) earnings per share for the quarter, beating the consensus estimate of C($0.12) by C$0.03. Precision Drilling had a negative return on equity of 5.62% and a negative net margin of 8.36%.

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Precision Drilling Company Profile

Precision Drilling Corporation (Precision) is an oilfield services company. The Company provides onshore drilling and completion and production services to exploration and production companies in the oil and natural gas industry. The Company operates through two segments: Contract Drilling Services, and Completion and Production Services.

Analyst Recommendations for Precision Drilling (TSE:PD)

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