Precision Drill (PD), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. The company received a Buy rating from Canaccord Genuity’s analyst John Bereznicki, with a C$3.50 price target.
According to TipRanks.com, Bereznicki is ranked #5066 out of 5237 analysts.
Currently, the analyst consensus on Precision Drill is a Strong Buy with an average price target of C$4.69.
Based on Precision Drill’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$25.01 million. In comparison, last year the company had a GAAP net loss of C$47.22 million.
Precision Drilling Corp. provides onshore drilling, completion, and production services to the oil and natural gas industry. It operates through the following segments: Contract Drilling Services; and Completion and Production Services.
The company’s shares closed on Tuesday at C$2.29, close to its 52-week low of C$2.20.