TD Securities Lowers Precision Drilling (PD) to Buy

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TD Securities downgraded shares of Precision Drilling (TSE:PD) (NYSE:PDS) from an action list buy rating to a buy rating in a research report sent to investors on Wednesday morning. TD Securities currently has C$7.50 target price on the stock, up from their prior target price of C$7.00.

Several other equities research analysts have also issued reports on PD. Raymond James raised their target price on Precision Drilling from C$5.75 to C$7.25 and gave the company a strong-buy rating in a research report on Tuesday, July 10th. Canaccord Genuity raised their target price on Precision Drilling from C$5.00 to C$5.25 in a research report on Tuesday, July 10th. Finally, Cormark raised their target price on Precision Drilling from C$5.50 to C$6.00 in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of C$5.86.

Shares of Precision Drilling stock opened at C$4.63 on Wednesday. Precision Drilling has a 1 year low of C$2.89 and a 1 year high of C$5.33.

Precision Drilling (TSE:PD) (NYSE:PDS) last announced its earnings results on Thursday, July 26th. The company reported C($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.14) by C($0.02). Precision Drilling had a negative net margin of 13.54% and a negative return on equity of 10.28%. The business had revenue of C$330.72 million for the quarter, compared to analysts’ expectations of C$321.63 million.

About Precision Drilling

Precision Drilling Corporation provides oil and natural gas drilling and related services and products. The company operates in two segments, Contract Drilling Services, and Completion and Production Services. The Contract Drilling Services segment offers onshore well drilling services to exploration and production companies in the oil and natural gas industry.

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Analyst Recommendations for Precision Drilling (TSE:PD)

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