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

Precision Drilling (TSE:PD - Get Free Report) NYSE: PDS had its price objective dropped by investment analysts at TD Securities from C$100.00 to C$89.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. TD Securities' price target points to a potential upside of 14.12% from the company's current price.

Other equities analysts have also issued reports about the company. 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 dropped their target price on shares of Precision Drilling from C$125.00 to C$115.00 in a research report on Friday. Royal Bank of Canada reduced their price target on shares of Precision Drilling from C$121.00 to C$110.00 in a report on Friday. Finally, Raymond James decreased their price target on shares of Precision Drilling from C$146.00 to C$141.00 in a research note on Friday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Precision Drilling presently has an average rating of "Buy" and an average price target of C$119.00.

Precision Drilling Trading Up 0.7 %

Shares of PD stock traded up C$0.52 during mid-day trading on Friday, hitting C$77.99. The company's stock had a trading volume of 171,351 shares, compared to its average volume of 115,955. Precision Drilling has a 52 week low of C$76.50 and a 52 week high of C$109.20. The company has a debt-to-equity ratio of 51.98, a quick ratio of 1.36 and a current ratio of 1.54. The company's fifty day simple moving average is C$86.77 and its 200-day simple moving average is C$88.93. The company has a market cap of C$1.11 billion, a PE ratio of 4.59, a P/E/G ratio of -3.24 and a beta of 2.76.

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.