Precision Drilling (TSE:PD) Hits New 1-Year Low - Here's Why

Precision Drilling Co. (TSE:PD - Get Free Report) NYSE: PDS hit a new 52-week low on Thursday . The company traded as low as C$76.50 and last traded at C$79.09, with a volume of 57998 shares traded. The stock had previously closed at C$80.35.

Analyst Ratings Changes

Several equities research analysts have issued reports on PD shares. TD Securities cut their price objective on shares of Precision Drilling from C$100.00 to C$89.00 and set a "hold" rating for the company in a research report 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. ATB Capital boosted their price target on Precision Drilling from C$109.00 to C$123.00 in a research note on Tuesday, December 10th. CIBC cut their target price on Precision Drilling from C$125.00 to C$115.00 in a research report on Friday. Finally, Royal Bank of Canada dropped their price target on Precision Drilling from C$121.00 to C$110.00 in a research note on Friday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of C$119.00.

Precision Drilling Price Performance

The firm has a market cap of C$1.10 billion, a P/E ratio of 4.56, a PEG 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 business's fifty day simple moving average is C$86.94 and its 200-day simple moving average is C$89.00.

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.